Third Coast Bancshares, Inc. $TCBX Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 435.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,408 shares of the company’s stock after acquiring an additional 81,655 shares during the quarter. Franklin Resources Inc. owned about 0.72% of Third Coast Bancshares worth $3,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in shares of Third Coast Bancshares by 10.2% during the 1st quarter. Acadian Asset Management LLC now owns 111,143 shares of the company’s stock valued at $3,708,000 after purchasing an additional 10,329 shares during the period. Invesco Ltd. bought a new position in Third Coast Bancshares during the first quarter valued at about $2,732,000. Vanguard Group Inc. grew its holdings in Third Coast Bancshares by 1.5% during the first quarter. Vanguard Group Inc. now owns 652,898 shares of the company’s stock worth $21,787,000 after acquiring an additional 9,679 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Third Coast Bancshares by 19.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 399,335 shares of the company’s stock worth $13,326,000 after acquiring an additional 64,047 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in Third Coast Bancshares in the 1st quarter valued at about $760,000. Institutional investors own 36.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TCBX shares. Zacks Research raised shares of Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Stephens lifted their price target on shares of Third Coast Bancshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods upped their price target on Third Coast Bancshares from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Third Coast Bancshares in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Third Coast Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.67.

Third Coast Bancshares Price Performance

TCBX stock opened at $38.11 on Wednesday. The firm has a market capitalization of $529.50 million, a P/E ratio of 11.65 and a beta of 0.37. Third Coast Bancshares, Inc. has a 52-week low of $25.17 and a 52-week high of $41.25. The company’s 50 day simple moving average is $37.77 and its 200-day simple moving average is $36.36.

Third Coast Bancshares (NASDAQ:TCBX) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter. Third Coast Bancshares had a net margin of 16.30% and a return on equity of 12.05%. The firm had revenue of $54.48 million for the quarter. Sell-side analysts predict that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Insider Buying and Selling at Third Coast Bancshares

In other news, Director W. Donald Brunson sold 1,500 shares of Third Coast Bancshares stock in a transaction on Monday, December 1st. The stock was sold at an average price of $38.55, for a total transaction of $57,825.00. Following the transaction, the director owned 37,268 shares in the company, valued at approximately $1,436,681.40. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.28% of the company’s stock.

Third Coast Bancshares Company 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.