Legato Capital Management LLC Buys Shares of 6,825 Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Legato Capital Management LLC bought a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,825 shares of the company’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new stake in Third Coast Bancshares during the 4th quarter valued at $40,000. Public Employees Retirement System of Ohio raised its position 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 valued at $109,000 after purchasing an additional 2,454 shares in the last quarter. SG Americas Securities LLC bought a new stake in Third Coast Bancshares during the 3rd quarter valued at $115,000. AQR Capital Management LLC bought a new position in shares of Third Coast Bancshares in the 2nd quarter worth $255,000. Finally, Seizert Capital Partners LLC bought a new position in shares of Third Coast Bancshares in the 3rd quarter worth $321,000. 36.88% of the stock is owned by institutional investors.

Third Coast Bancshares Price Performance

Shares of NASDAQ:TCBX opened at $38.05 on Friday. The business’s 50-day moving average is $35.00 and its 200 day moving average is $30.60. Third Coast Bancshares, Inc. has a 1 year low of $18.00 and a 1 year high of $39.06. The firm has a market capitalization of $520.52 million, a P/E ratio of 13.74 and a beta of 0.31.

Third Coast Bancshares (NASDAQ:TCBX) last announced its earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.11. Third Coast Bancshares had a return on equity of 10.93% and a net margin of 14.06%. On average, analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Third Coast Bancshares

In other news, insider William Bobbora purchased 1,450 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were acquired at an average price of $35.33 per share, for a total transaction of $51,228.50. Following the purchase, the insider now owns 6,050 shares in the company, valued at $213,746.50. This trade represents a 31.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.20% of the stock is currently owned by corporate insiders.

Third Coast Bancshares 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.