Third Coast Bancshares, Inc. (TCBX) to Issue Dividend of $16.88 on April 17th

Third Coast Bancshares, Inc. (NASDAQ:TCBX – Get Rating) announced a dividend on Thursday, March 16th, Zacks reports. Investors of record on Friday, March 31st will be given a dividend of 16.875 per share on Monday, April 17th. The ex-dividend date of this dividend is Thursday, March 30th.

Third Coast Bancshares Stock Performance

Shares of NASDAQ TCBX traded down $0.05 during mid-day trading on Friday, reaching $16.53. 111,322 shares of the company traded hands, compared to its average volume of 24,693. The company’s fifty day moving average is $18.33 and its two-hundred day moving average is $18.43. Third Coast Bancshares has a fifty-two week low of $14.00 and a fifty-two week high of $26.75. The stock has a market cap of $223.65 million, a PE ratio of 13.33 and a beta of 0.38.

Analyst Upgrades and Downgrades

Separately, Stephens lowered their price target on Third Coast Bancshares from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 30th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in Third Coast Bancshares by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 35,100 shares of the company’s stock valued at $647,000 after purchasing an additional 851 shares during the last quarter. Renaissance Technologies LLC grew its position in Third Coast Bancshares by 5.0% during the fourth quarter. Renaissance Technologies LLC now owns 35,800 shares of the company’s stock worth $660,000 after buying an additional 1,700 shares in the last quarter. Morgan Stanley raised its holdings in Third Coast Bancshares by 4.5% in the 4th quarter. Morgan Stanley now owns 40,095 shares of the company’s stock valued at $739,000 after acquiring an additional 1,721 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Third Coast Bancshares by 149.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,940 shares of the company’s stock worth $50,000 after acquiring an additional 1,760 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Third Coast Bancshares by 80.0% during the third quarter. Royal Bank of Canada now owns 3,995 shares of the company’s stock valued at $68,000 after purchasing an additional 1,776 shares during the period. 50.00% of the stock is owned by institutional investors.

About Third Coast Bancshares

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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.