Russell Investments Group Ltd. Acquires 13,113 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Russell Investments Group Ltd. lifted its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 295.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,545 shares of the company’s stock after acquiring an additional 13,113 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of Third Coast Bancshares worth $596,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership bought a new position in Third Coast Bancshares in the 4th quarter worth about $3,040,000. Alliancebernstein L.P. lifted its holdings in shares of Third Coast Bancshares by 22.8% in the fourth quarter. Alliancebernstein L.P. now owns 408,561 shares of the company’s stock worth $13,871,000 after buying an additional 75,964 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Third Coast Bancshares by 82.6% in the fourth quarter. American Century Companies Inc. now owns 141,765 shares of the company’s stock valued at $4,813,000 after acquiring an additional 64,148 shares during the period. Prudential Financial Inc. purchased a new position in Third Coast Bancshares during the fourth quarter valued at approximately $1,492,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Third Coast Bancshares by 122.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 76,075 shares of the company’s stock worth $2,583,000 after acquiring an additional 41,876 shares during the period. 36.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $32.35 per share, for a total transaction of $64,700.00. Following the transaction, the insider now directly owns 41,639 shares in the company, valued at $1,347,021.65. This trade represents a 5.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.20% of the company’s stock.

Analyst Ratings Changes

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

Third Coast Bancshares Stock Performance

Shares of NASDAQ:TCBX opened at $30.20 on Wednesday. The firm has a market capitalization of $416.43 million, a PE ratio of 10.90 and a beta of 0.40. Third Coast Bancshares, Inc. has a 52-week low of $18.82 and a 52-week high of $39.45. The firm has a fifty day moving average of $32.55 and a 200 day moving average of $33.28.

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

Third Coast Bancshares 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.