Insider Spends US$292k Buying More Shares In Third Coast Bancshares

Potential Third Coast Bancshares, Inc. (NASDAQ:TCBX) shareholders may wish to note that the Senior EVP & CFO, R. McWhorter, recently bought US$292k worth of stock, paying US$29.21 for each share. While that's a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 3.7%.

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The Last 12 Months Of Insider Transactions At Third Coast Bancshares

Notably, that recent purchase by R. McWhorter is the biggest insider purchase of Third Coast Bancshares shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of US$29.80. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. In this case we're pleased to report that the insider purchases were made at close to current prices.

Over the last year, we can see that insiders have bought 27.75k shares worth US$748k. On the other hand they divested 2.00k shares, for US$75k. Overall, Third Coast Bancshares insiders were net buyers during the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

View our latest analysis for Third Coast Bancshares

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.

Insider Ownership

For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. Insiders own 7.7% of Third Coast Bancshares shares, worth about US$32m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

What Might The Insider Transactions At Third Coast Bancshares Tell Us?

It is good to see recent purchasing. We also take confidence from the longer term picture of insider transactions. When combined with notable insider ownership, these factors suggest Third Coast Bancshares insiders are well aligned, and that they may think the share price is too low. Of course, the future is what matters most. So if you are interested in Third Coast Bancshares, you should check out this free report on analyst forecasts for the company.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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