Janus Henderson Group PLC Takes $215,000 Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Janus Henderson Group PLC bought a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,342 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors also recently added to or reduced their stakes in TCBX. Picton Mahoney Asset Management acquired a new position in shares of Third Coast Bancshares during the fourth quarter worth $27,000. R Squared Ltd acquired a new stake in Third Coast Bancshares during the fourth quarter worth approximately $40,000. US Bancorp DE purchased a new stake in shares of Third Coast Bancshares during the 4th quarter worth approximately $73,000. SG Americas Securities LLC boosted its holdings in shares of Third Coast Bancshares by 17.7% in the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock valued at $171,000 after buying an additional 760 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Third Coast Bancshares in the 4th quarter valued at $203,000. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Stock Performance

Shares of TCBX opened at $30.48 on Monday. The company has a market capitalization of $421.63 million, a price-to-earnings ratio of 11.00 and a beta of 0.42. Third Coast Bancshares, Inc. has a fifty-two week low of $18.82 and a fifty-two week high of $39.45. The firm has a 50-day simple moving average of $30.65 and a 200-day simple moving average of $33.47.

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

Insider Activity at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora acquired 2,400 shares of the stock in a transaction on Monday, April 28th. The shares were bought at an average price of $28.51 per share, with a total value of $68,424.00. Following the acquisition, the insider now owns 9,250 shares of the company’s stock, valued at $263,717.50. This trade represents a 35.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 4,470 shares of company stock worth $135,204 in the last three months. Insiders own 10.28% of the company’s stock.

Analyst Upgrades and Downgrades

TCBX has been the subject of several research analyst reports. Stephens decreased their price objective on shares of Third Coast Bancshares from $44.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Raymond James downgraded Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reduced their price objective on Third Coast Bancshares from $39.00 to $36.00 and set a “market perform” rating for the company in a research note on Friday, April 25th.

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.