2 weeks Ago By Defense World Staff
Prudential Financial Inc. purchased a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX – Free Report) in the fourth quarter, according to its most recent filing with the SEC.
The firm purchased 43,944 shares of the company’s stock, valued at approximately $1,492,000. Prudential Financial Inc. owned 0.
32% of Third Coast Bancshares at the end of the most recent quarter. A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc.
boosted its position in shares of Third Coast Bancshares by 1.5% during the 4th quarter. Vanguard Group Inc.
now owns 643,219 shares of the company’s stock valued at $21,837,000 after purchasing an additional 9,395 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Third Coast Bancshares by 1.2% during the 3rd quarter.
Geode Capital Management LLC now owns 274,962 shares of the company’s stock worth $7,363,000 after buying an additional 3,373 shares in the last quarter. State Street Corp grew its position in shares of Third Coast Bancshares by 6.8% during the 3rd quarter.
State Street Corp now owns 218,514 shares of the company’s stock worth $5,850,000 after buying an additional 13,948 shares during the period. American Century Companies Inc. increased its stake in shares of Third Coast Bancshares by 82.
6% in the 4th quarter. American Century Companies Inc. now owns 141,765 shares of the company’s stock valued at $4,813,000 after acquiring an additional 64,148 shares in the last quarter.
Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Third Coast Bancshares by 122.4% during the 4th quarter.
Connor Clark & Lunn Investment Management Ltd. now owns 76,075 shares of the company’s stock valued at $2,583,000 after acquiring an additional 41,876 shares during the period. 36.
88% of the stock is currently owned by institutional investors and hedge funds. Third Coast Bancshares Stock PerformanceShares of TCBX opened at $28.32 on Friday.
The firm has a market capitalization of $390.50 million, a P/E ratio of 10.22 and a beta of 0.
40. Third Coast Bancshares, Inc. has a 52 week low of $18.
00 and a 52 week high of $39.45. The stock has a 50 day moving average price of $34.
95 and a two-hundred day moving average price of $33.11. Third Coast Bancshares (NASDAQ:TCBX – Get Free Report) 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 return on equity of 10.93% and a net margin of 14.
06%. On average, equities analysts forecast that Third Coast Bancshares, Inc. will post 3.
1 earnings per share for the current year. Analyst Upgrades and DowngradesA number of equities research analysts have commented on TCBX shares. Stephens restated an “overweight” rating and issued a $42.
00 price target on shares of Third Coast Bancshares in a report on Thursday, January 23rd. Raymond James downgraded Third Coast Bancshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods cut Third Coast Bancshares from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $40.
00 to $42.00 in a research note on Wednesday, January 29th.Read Our Latest Research Report on Third Coast BancsharesInsider ActivityIn other news, insider William Bobbora acquired 2,000 shares of the firm’s stock in a transaction on Friday, March 14th.
The stock was purchased at an average price of $32.35 per share, for a total transaction of $64,700.00.
Following the purchase, the insider now owns 41,639 shares in the company, 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 the SEC website. 10.
20% of the stock is currently owned by corporate insiders. About Third Coast Bancshares (Free Report)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.
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