Point72 Asia Singapore Pte. Ltd. Takes Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 823 shares of the company’s stock, valued at approximately $28,000.

Several other large investors have also made changes to their positions in the business. Picton Mahoney Asset Management purchased a new stake in Third Coast Bancshares during the fourth quarter worth $27,000. R Squared Ltd purchased a new stake in Third Coast Bancshares during the fourth quarter worth $40,000. US Bancorp DE purchased a new stake in Third Coast Bancshares during the fourth quarter worth $73,000. SG Americas Securities LLC boosted its holdings in Third Coast Bancshares by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock worth $171,000 after buying an additional 760 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in Third Coast Bancshares during the fourth quarter worth $203,000. 36.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TCBX. Raymond James downgraded shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of Third Coast Bancshares from $39.00 to $36.00 and set a “market perform” rating on the stock in a report on Friday, April 25th. Finally, Stephens decreased their price objective on shares of Third Coast Bancshares from $44.00 to $39.00 and set an “overweight” rating on the stock in a report on Friday, April 25th.

Third Coast Bancshares Stock Down 0.6%

TCBX opened at $31.60 on Tuesday. The company has a market cap of $437.12 million, a price-to-earnings ratio of 11.41 and a beta of 0.42. Third Coast Bancshares, Inc. has a 52-week low of $18.82 and a 52-week high of $39.45. The firm’s fifty day simple moving average is $30.77 and its two-hundred day simple moving average is $33.53.

Third Coast Bancshares (NASDAQ:TCBX) last issued its earnings results on Wednesday, April 23rd. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.08. The business had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $46.02 million. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. On average, research analysts forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Insider Activity

In other Third Coast Bancshares news, insider William Bobbora bought 2,000 shares of Third Coast Bancshares stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $32.35 per share, for a total transaction of $64,700.00. Following the completion of the transaction, the insider now directly owns 41,639 shares of the company’s stock, valued at approximately $1,347,021.65. This represents a 5.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 4,470 shares of company stock worth $135,204 over the last three months. Insiders own 10.20% of the company’s stock.

About Third Coast Bancshares

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.