JPMorgan Chase & Co. Purchases 17,184 Shares of Third Coast Bancshares, Inc. $TCBX

JPMorgan Chase & Co. raised its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 45.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 54,721 shares of the company’s stock after buying an additional 17,184 shares during the period. JPMorgan Chase & Co. owned about 0.39% of Third Coast Bancshares worth $2,078,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of TCBX. Quantbot Technologies LP bought a new position in Third Coast Bancshares in the 2nd quarter valued at $29,000. Advisory Services Network LLC bought a new position in Third Coast Bancshares in the 3rd quarter valued at $31,000. CWM LLC boosted its position in Third Coast Bancshares by 25.4% in the 3rd quarter. CWM LLC now owns 2,456 shares of the company’s stock valued at $93,000 after buying an additional 498 shares during the last quarter. Savant Capital LLC bought a new position in Third Coast Bancshares in the 3rd quarter valued at $211,000. Finally, Stephens Inc. AR bought a new position in Third Coast Bancshares in the 3rd quarter valued at $213,000. 36.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Third Coast Bancshares news, insider William Bobbora acquired 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were acquired at an average price of $39.62 per share, with a total value of $47,544.00. Following the purchase, the insider owned 48,306 shares of the company’s stock, valued at $1,913,883.72. This represents a 2.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TCBX. Zacks Research lowered Third Coast Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. Keefe, Bruyette & Woods raised their price objective on Third Coast Bancshares from $43.00 to $45.00 and gave the stock a “market perform” rating in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.50.

Third Coast Bancshares Trading Up 0.7%

Shares of Third Coast Bancshares stock opened at $38.83 on Tuesday. The company has a market capitalization of $640.22 million, a PE ratio of 11.88 and a beta of 0.42. Third Coast Bancshares, Inc. has a 12 month low of $25.17 and a 12 month high of $43.84. The stock’s fifty day simple moving average is $39.74 and its 200 day simple moving average is $38.90.

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. It also offers commercial and industrial loans, equipment loans, working capital lines of credit, guaranteed loans, auto finance, letters of credit, commercial and residential real estate, and construction, development, and other loans.