Hillsdale Investment Management Inc. Sells 1,100 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Hillsdale Investment Management Inc. trimmed its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 1.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 109,600 shares of the company’s stock after selling 1,100 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Third Coast Bancshares were worth $3,721,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management bought a new position in Third Coast Bancshares during the fourth quarter worth about $27,000. R Squared Ltd bought a new position in shares of Third Coast Bancshares during the 4th quarter worth approximately $40,000. US Bancorp DE acquired a new stake in Third Coast Bancshares in the 4th quarter valued at $73,000. Public Employees Retirement System of Ohio grew its position in Third Coast Bancshares by 150.8% in the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock valued at $109,000 after acquiring an additional 2,454 shares during the period. Finally, SG Americas Securities LLC raised its stake in Third Coast Bancshares by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company’s stock worth $171,000 after acquiring an additional 760 shares in the last quarter. 36.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider William Bobbora acquired 2,000 shares of the company’s stock in a transaction 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 acquisition, the insider now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.20% of the stock is currently owned by corporate insiders.

Third Coast Bancshares Stock Down 1.6 %

Third Coast Bancshares stock opened at $33.40 on Friday. Third Coast Bancshares, Inc. has a 12-month low of $18.00 and a 12-month high of $39.45. The stock has a 50-day simple moving average of $35.08 and a 200 day simple moving average of $32.62. The stock has a market capitalization of $460.55 million, a price-to-earnings ratio of 12.06 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 (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.

Analysts Set New Price Targets

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

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.