XTX Topco Ltd Invests $648,000 in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

XTX Topco Ltd acquired a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the 4th quarter, Holdings Channel.com reports. The firm acquired 19,082 shares of the company’s stock, valued at approximately $648,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new stake in shares of Third Coast Bancshares in the fourth quarter worth about $27,000. R Squared Ltd acquired a new position in shares of Third Coast Bancshares in the 4th quarter valued at approximately $40,000. US Bancorp DE bought a new stake in Third Coast Bancshares during the 4th quarter worth approximately $73,000. Public Employees Retirement System of Ohio raised its holdings in Third Coast Bancshares by 150.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock worth $109,000 after buying an additional 2,454 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Third Coast Bancshares by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock worth $171,000 after buying an additional 760 shares during the period. 36.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider William Bobbora purchased 2,000 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $32.35 per share, with a total value of $64,700.00. Following the transaction, the insider now directly owns 41,639 shares of the company’s stock, valued at $1,347,021.65. This trade represents a 5.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.20% of the stock is currently owned by corporate insiders.

Third Coast Bancshares Stock Up 1.3 %

NASDAQ TCBX opened at $29.15 on Friday. The firm’s 50 day moving average is $32.88 and its 200-day moving average is $33.17. The company has a market capitalization of $401.95 million, a PE ratio of 10.52 and a beta of 0.40. Third Coast Bancshares, Inc. has a 12-month low of $18.43 and a 12-month high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.11. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. As a group, sell-side analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TCBX shares. Keefe, Bruyette & Woods cut shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and upped their price target for the company from $40.00 to $42.00 in a report on Wednesday, January 29th. Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Finally, Raymond James lowered Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd.

Third Coast Bancshares Company Profile

Third Coast Bancshares, Inc operates as a bank holding company for Third Coast Bank, SSB that provides various commercial banking solutions to small and medium-sized businesses, and professionals. The company's deposit products include checking, savings, individual retirement, and money market accounts, as well as certificates of deposit.