William Bobbora Purchases Shares in Third Coast Bancshares, Inc.
On December 5th, William Bobbora, an insider at Third Coast Bancshares, Inc. (NASDAQ:TCBX), made a notable purchase of 1,450 shares of the company's stock. The shares were acquired at an average price of $35.33 each, totaling $51,228.50. This move enhanced his ownership, bringing his total to 6,050 shares, now worth approximately $213,746.50. This transaction represented a 31.52% increase in his stake. Relevant details of the acquisition were filed with the Securities and Exchange Commission (SEC) and can be accessed publicly.
Third Coast Bancshares Stock Performance
As of Friday, Third Coast Bancshares shares opened at $35.10. The stock has reached a twelve-month low of $18.00 and a high of $37.15 during this period. Its 50-day moving average stands at $31.63, while the 200-day moving average is at $25.85. With a market capitalization of $480.17 million, the company has a P/E ratio of 13.76 and a beta of 0.27, indicating stable performance compared to the broader market.
The latest earnings report for Third Coast Bancshares was announced on October 23rd, where it reported earnings per share (EPS) of $0.74 for the quarter. This figure surpassed analysts' expectations of $0.53 by $0.21. The company generated revenue of $85.24 million during this quarter, significantly above the anticipated $41.09 million. Additionally, Third Coast Bancshares achieved a return on equity of 10.14% and a net margin of 13.23%. In comparison to the same quarter last year, the EPS improved from $0.32. Analysts project that the company will record an EPS of 2.68 for the current fiscal year.
Institutional Inflows and Outflows
Recently, institutional investors and hedge funds have been actively trading shares of Third Coast Bancshares. Federated Hermes Inc., for example, increased its holdings by 196.6% in the second quarter, now owning 1,649 shares valued at $35,000 after acquiring 1,093 additional shares. Additionally, the Public Employees Retirement System of Ohio raised its position by 150.8% during the third quarter, holding 4,081 shares worth $109,000 after buying 2,454 shares in the preceding quarter. SG Americas Securities LLC made a new investment in Third Coast Bancshares valued at $115,000, while AQR Capital Management LLC invested $255,000. Seizert Capital Partners LLC also acquired a new stake worth $321,000 in the third quarter. Overall, institutional and hedge fund investments make up 36.88% of the company’s stock ownership.
About Third Coast Bancshares
Third Coast Bancshares, Inc. serves as a bank holding company for Third Coast Bank, SSB, providing a range of commercial banking services tailored for small and medium-sized businesses as well as professionals. Their deposit offerings include checking and savings accounts, individual retirement accounts, money market accounts, and certificates of deposit.
Bancshares, Shares, Market