Raymond James Financial Inc. Makes New $797,000 Investment in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Raymond James Financial Inc. acquired a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,485 shares of the company’s stock, valued at approximately $797,000. Raymond James Financial Inc. owned 0.17% of Third Coast Bancshares at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Third Coast Bancshares by 254.6% in the third quarter. Barclays PLC now owns 15,929 shares of the company’s stock valued at $426,000 after purchasing an additional 11,437 shares during the period. JPMorgan Chase & Co. boosted its position in Third Coast Bancshares by 131.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,350 shares of the company’s stock valued at $625,000 after buying an additional 13,270 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Third Coast Bancshares by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock valued at $171,000 after acquiring an additional 760 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Third Coast Bancshares during the fourth quarter worth about $40,000. Finally, Empowered Funds LLC lifted its stake in shares of Third Coast Bancshares by 5.0% in the fourth quarter. Empowered Funds LLC now owns 29,659 shares of the company’s stock worth $1,007,000 after acquiring an additional 1,406 shares in the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Third Coast Bancshares

In related news, insider William Bobbora acquired 2,000 shares of the stock in a transaction dated Friday, March 14th. The stock was bought 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 $1,347,021.65. The trade was a 5.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 4,470 shares of company stock worth $135,204 over the last 90 days. Insiders own 10.20% of the company’s stock.

Third Coast Bancshares Price Performance

TCBX stock opened at $30.22 on Wednesday. The business has a 50-day moving average of $31.19 and a 200-day moving average of $33.47. Third Coast Bancshares, Inc. has a fifty-two week low of $18.82 and a fifty-two week high of $39.45. The stock has a market capitalization of $417.79 million, a P/E ratio of 10.91 and a beta of 0.42.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Raymond James downgraded shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Stephens lowered their target price on Third Coast Bancshares from $44.00 to $39.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods decreased their price target on Third Coast Bancshares from $39.00 to $36.00 and set a “market perform” rating for the company in a research report on Friday, April 25th.

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.