Bank of New York Mellon Corp Raises Stock Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Bank of New York Mellon Corp lifted its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,182 shares of the company’s stock after purchasing an additional 1,779 shares during the period. Bank of New York Mellon Corp owned 0.26% of Third Coast Bancshares worth $1,194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in Third Coast Bancshares by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock valued at $171,000 after purchasing an additional 760 shares in the last quarter. Martingale Asset Management L P raised its holdings in shares of Third Coast Bancshares by 3.3% in the third quarter. Martingale Asset Management L P now owns 34,092 shares of the company’s stock valued at $913,000 after acquiring an additional 1,101 shares in the last quarter. R Squared Ltd bought a new stake in shares of Third Coast Bancshares in the fourth quarter valued at about $40,000. Empowered Funds LLC lifted its stake in Third Coast Bancshares by 5.0% in the fourth quarter. Empowered Funds LLC now owns 29,659 shares of the company’s stock worth $1,007,000 after acquiring an additional 1,406 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in Third Coast Bancshares by 150.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock worth $109,000 after acquiring an additional 2,454 shares in the last quarter. Institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Stock Performance

NASDAQ:TCBX opened at $33.79 on Tuesday. The company’s 50-day simple moving average is $35.13 and its 200-day simple moving average is $32.73. Third Coast Bancshares, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $39.45. The stock has a market capitalization of $465.93 million, a P/E ratio of 12.20 and a beta of 0.32.

Third Coast Bancshares (NASDAQ:TCBX) last announced its earnings results 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, research analysts forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Insider Transactions at Third Coast Bancshares

In related news, insider William Bobbora acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $32.35 per share, with a total value of $64,700.00. Following the transaction, the insider now directly owns 41,639 shares of the company’s stock, valued at $1,347,021.65. This trade represents a 5.05 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.20% of the company’s stock.

Analyst Ratings Changes

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

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.