BNP Paribas Financial Markets Purchases New Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

BNP Paribas Financial Markets purchased a new stake in shares of 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 institutional investor purchased 12,213 shares of the company’s stock, valued at approximately $415,000. BNP Paribas Financial Markets owned about 0.09% of Third Coast Bancshares at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TCBX. Ameriprise Financial Inc. lifted its stake in shares of Third Coast Bancshares by 24.8% in the 4th quarter. Ameriprise Financial Inc. now owns 73,271 shares of the company’s stock valued at $2,488,000 after purchasing an additional 14,560 shares during the period. Algert Global LLC acquired a new position in Third Coast Bancshares during the 4th quarter worth approximately $260,000. AXA S.A. bought a new position in Third Coast Bancshares in the fourth quarter valued at $912,000. PDT Partners LLC bought a new position in shares of Third Coast Bancshares in the 4th quarter valued at about $252,000. Finally, Northern Trust Corp increased its position in shares of Third Coast Bancshares by 4.6% during the 4th quarter. Northern Trust Corp now owns 104,514 shares of the company’s stock worth $3,548,000 after purchasing an additional 4,628 shares during the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider William Bobbora bought 2,400 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were acquired at an average price of $28.51 per share, for a total transaction of $68,424.00. Following the completion of the acquisition, the insider now directly owns 9,250 shares in the company, valued at approximately $263,717.50. This represents a 35.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased a total of 4,470 shares of company stock valued at $135,204 in the last three months. Insiders own 10.28% of the company’s stock.

Analyst Ratings Changes

TCBX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price 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. Raymond James cut shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Finally, Stephens reduced 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.

Third Coast Bancshares Trading Down 0.9%

Shares of NASDAQ TCBX opened at $30.48 on Monday. The company has a market cap of $421.63 million, a price-to-earnings ratio of 11.00 and a beta of 0.42. The stock has a 50-day moving average price of $30.65 and a two-hundred day moving average price of $33.47. Third Coast Bancshares, Inc. has a 12 month low of $18.82 and a 12 month high of $39.45.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly 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. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. The firm had revenue of $45.90 million for the quarter, compared to analyst estimates of $46.02 million. On average, sell-side analysts predict that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current 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.