JPMorgan Chase & Co. Has $625,000 Stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

JPMorgan Chase & Co. grew its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 131.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,350 shares of the company’s stock after purchasing an additional 13,270 shares during the period. JPMorgan Chase & Co. owned about 0.17% of Third Coast Bancshares worth $625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TCBX. Public Employees Retirement System of Ohio grew its position in Third Coast Bancshares by 150.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock worth $109,000 after purchasing an additional 2,454 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Third Coast Bancshares in the 3rd quarter worth $115,000. AQR Capital Management LLC acquired a new stake in shares of Third Coast Bancshares during the 2nd quarter valued at about $255,000. Seizert Capital Partners LLC acquired a new stake in shares of Third Coast Bancshares during the 3rd quarter valued at about $321,000. Finally, Barclays PLC boosted its position in shares of Third Coast Bancshares by 254.6% during the 3rd quarter. Barclays PLC now owns 15,929 shares of the company’s stock valued at $426,000 after acquiring an additional 11,437 shares in the last quarter. 36.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Third Coast Bancshares

In other news, insider William Bobbora purchased 1,450 shares of Third Coast Bancshares stock in a transaction on Thursday, December 5th. The shares were purchased at an average cost of $35.33 per share, for a total transaction of $51,228.50. Following the completion of the transaction, the insider now directly owns 6,050 shares in the company, valued at approximately $213,746.50. This represents a 31.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James reiterated an “outperform” rating and set a $39.00 target price (up from $34.00) on shares of Third Coast Bancshares in a research report on Friday. Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of Third Coast Bancshares in a research report on Thursday, January 23rd.

Third Coast Bancshares Stock Up 0.4 %

NASDAQ:TCBX opened at $36.82 on Tuesday. The firm has a market cap of $503.66 million, a PE ratio of 13.29 and a beta of 0.31. Third Coast Bancshares, Inc. has a 12 month low of $18.00 and a 12 month high of $37.79. The company’s 50-day moving average price is $34.51 and its two-hundred day moving average price is $29.38.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.11. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%. On average, research analysts expect that Third Coast Bancshares, Inc. will post 2.78 EPS for the current fiscal year.

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.