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Manufacturers Life Insurance Company cut its position in Third Coast BankShares (NASDAQ:TCBX – Get Rating) by 9.3% in the third quarter. The fund owned 210,651 shares of the company after selling 21,689 of his shares during the quarter. Manufacturers’ Life Insurance Company owned approximately 1.56% of Third Coast Bankshare worth $3,604,000 as of the latest SEC filing.
Several other institutional investors have also recently changed their holdings of TCBX. Bank of New York Mellon Corp purchased approximately $253,000 worth of new shares in Third Coast BankShares in the first quarter. Bank of Montreal Can purchased new shares in Third Coast Bancshares worth approximately $804,000 in the first quarter. BlackRock Inc. upped his Third Coast Bancshares stake by 30.3% in the first quarter. BlackRock Inc. now owns 144,054 shares of the company’s stock worth $3,328,000 after he purchased an additional 33,526 shares during the previous quarter. Vanguard Group Inc. boosted his Third Coast Bancshares stake by 189.8% in the first quarter. Vanguard Group Inc. now owns 205,770 shares of the company worth $4,754,000 after he purchased an additional 134,767 shares last quarter. Finally, Fourthstone LLC acquired new shares in Third Coast Bancshares worth approximately $1,211,000 in the first quarter. Currently 50.00% of the shares are owned by hedge funds and other institutional investors.
Wall Street analyst opinion
Several analysts have recently commented on the TCBX stock. Stephens lowered his price target on Third Coast Bancshares from his $25.00 to $23.00, giving the stock an “overweight” rating in Monday’s report. Piper Sandler lowered his price target on Third Coast Bancshares from her $23.00 to her $22.00 in a report on Thursday, Oct. 13, giving the stock an “overweight” rating. Finally, Raymond James downgraded his Bankshares rating from ‘outperforming’ to ‘performing in the market’, in a report on Thursday, Oct. 6.
Third Coast BankShares trading up 2.4%
Shares of TCBX opened at $18.99 on Thursday. Third Coast Bancshares, Inc. has a 12-month low of $16.35 and a 12-month high of $26.75. The stock has a 50-day moving average of $18.81 and a 200-day moving average of $18.77. The company has a market capitalization of $256.93 million, a P/E of 15.31 and a beta of 0.39.
Third Coast BankShares Dividend Announcement
The company recently announced its annual dividend, which was paid on Tuesday, January 17th. A dividend of $17.25 was issued to shareholders of record on Saturday, December 31st. The ex-dividend date was Thursday, December 29.
Third Coast Bankshares Profile
(get rating)
Third Coast BankShares, Inc. operates as the bank holding company of Third Coast Bank (SSB), providing a range of commercial banking solutions to small businesses and professionals. The Company’s deposit products include checks, savings accounts, individual retirement plans, money market accounts and certificates of deposit.
References
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