Banc Funds Co. LLC trimmed its position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 27.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315,267 shares of the company's stock after selling 117,478 shares during the quarter. Banc Funds Co. LLC owned 2.30% of Third Coast Bancshares worth $10,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of TCBX. Picton Mahoney Asset Management purchased a new position in Third Coast Bancshares during the fourth quarter valued at $27,000. R Squared Ltd purchased a new stake in Third Coast Bancshares in the 4th quarter worth approximately $40,000. US Bancorp DE purchased a new stake in Third Coast Bancshares in the 4th quarter worth approximately $73,000. Public Employees Retirement System of Ohio lifted its holdings in Third Coast Bancshares by 150.8% during the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company's stock valued at $109,000 after purchasing an additional 2,454 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Third Coast Bancshares by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 5,043 shares of the company's stock worth $171,000 after purchasing an additional 760 shares during the period. 36.88% of the stock is currently owned by hedge funds and other institutional investors.
Third Coast Bancshares Stock Up 3.7 %
Third Coast Bancshares stock traded up $1.06 during midday trading on Tuesday, reaching $29.84. The stock had a trading volume of 28,675 shares, compared to its average volume of 59,267. The firm has a market cap of $411.45 million, a price-to-earnings ratio of 10.77 and a beta of 0.40. Third Coast Bancshares, Inc. has a 52-week low of $18.82 and a 52-week high of $39.45. The company has a fifty day moving average of $32.71 and a 200 day moving average of $33.30.
Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last issued its quarterly 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 return on equity of 10.93% and a net margin of 14.06%. Equities research analysts predict that Third Coast Bancshares, Inc. will post 3.1 EPS for the current year.
Wall Street Analysts Forecast Growth
TCBX has been the subject of several recent analyst reports. Raymond James downgraded shares of Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Stephens reaffirmed an "overweight" rating and set a $42.00 target price on shares of Third Coast Bancshares in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, January 29th.
Read Our Latest Research Report on Third Coast Bancshares
Insider Activity
In related news, insider William Bobbora acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $32.35 per share, for a total transaction of $64,700.00. Following the acquisition, the insider now directly owns 41,639 shares of the company's stock, valued at $1,347,021.65. This represents a 5.05 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.20% of the company's stock.
About Third Coast Bancshares
(
Free Report)
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.
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