Third Coast Bancshares, Inc. (NASDAQ:TCBX) Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,098 shares of the company’s stock after buying an additional 942 shares during the period. Charles Schwab Investment Management Inc. owned 0.25% of Third Coast Bancshares worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Third Coast Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 274,962 shares of the company’s stock worth $7,363,000 after purchasing an additional 3,373 shares in the last quarter. Wasatch Advisors LP acquired a new stake in shares of Third Coast Bancshares in the third quarter valued at $6,811,000. State Street Corp boosted its stake in Third Coast Bancshares by 6.8% during the third quarter. State Street Corp now owns 218,514 shares of the company’s stock valued at $5,850,000 after buying an additional 13,948 shares in the last quarter. Wellington Management Group LLP bought a new stake in Third Coast Bancshares in the third quarter worth about $1,443,000. Finally, Bank of New York Mellon Corp lifted its holdings in Third Coast Bancshares by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 35,182 shares of the company’s stock valued at $1,194,000 after acquiring an additional 1,779 shares during the last quarter. 36.88% of the stock is owned by institutional investors.

Third Coast Bancshares Price Performance

NASDAQ:TCBX opened at $33.19 on Monday. The stock has a market cap of $457.66 million, a PE ratio of 11.98 and a beta of 0.32. Third Coast Bancshares, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $39.45. The stock’s 50-day moving average is $35.24 and its two-hundred day moving average is $32.98.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on TCBX. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Raymond James restated an “outperform” rating and set a $39.00 price target (up previously from $34.00) on shares of Third Coast Bancshares in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods downgraded shares of Third Coast Bancshares from an “outperform” rating to a “market perform” rating and upped their price target for the company from $40.00 to $42.00 in a research report on Wednesday, January 29th.

Insider Buying and Selling

In other news, insider William Bobbora acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average price of $32.35 per share, for a total transaction of $64,700.00. Following the completion of the acquisition, the insider now owns 41,639 shares of the company’s stock, valued at approximately $1,347,021.65. This represents a 5.05 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.20% of the stock is owned by corporate insiders.

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.