Avion Wealth Decreases Stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Avion Wealth decreased its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 18.1% during the 4th quarter, Holdings Channel reports. The firm owned 6,800 shares of the company’s stock after selling 1,500 shares during the period. Avion Wealth’s holdings in Third Coast Bancshares were worth $230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in Third Coast Bancshares during the 2nd quarter valued at approximately $255,000. SG Americas Securities LLC purchased a new position in shares of Third Coast Bancshares during the third quarter valued at approximately $115,000. Inspire Investing LLC bought a new position in shares of Third Coast Bancshares during the third quarter valued at approximately $823,000. Blue Trust Inc. lifted its stake in Third Coast Bancshares by 1.8% in the third quarter. Blue Trust Inc. now owns 147,082 shares of the company’s stock worth $3,937,000 after acquiring an additional 2,632 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Third Coast Bancshares by 5.0% in the third quarter. Empowered Funds LLC now owns 28,253 shares of the company’s stock valued at $756,000 after acquiring an additional 1,340 shares in the last quarter. Institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Stock Up 1.4 %

Third Coast Bancshares stock opened at $38.06 on Wednesday. The stock’s 50 day moving average is $34.84 and its 200 day moving average is $30.40. The company has a market capitalization of $520.66 million, a P/E ratio of 13.74 and a beta of 0.31. Third Coast Bancshares, Inc. has a twelve month low of $18.00 and a twelve month high of $39.06.

Third Coast Bancshares (NASDAQ:TCBX) last issued its earnings results on Wednesday, January 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Insider Activity

In related news, insider William Bobbora bought 1,450 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was acquired at an average price of $35.33 per share, with a total value of $51,228.50. Following the transaction, the insider now owns 6,050 shares in the company, valued at approximately $213,746.50. This trade represents a 31.52 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 10.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.