Banc Funds Co. LLC trimmed its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 11.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,745 shares of the company's stock after selling 54,909 shares during the quarter. Banc Funds Co. LLC owned about 3.16% of Third Coast Bancshares worth $11,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of the business. Federated Hermes Inc. lifted its holdings in shares of Third Coast Bancshares by 196.6% during the second quarter. Federated Hermes Inc. now owns 1,649 shares of the company's stock valued at $35,000 after purchasing an additional 1,093 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Third Coast Bancshares by 121.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,822 shares of the company's stock worth $36,000 after acquiring an additional 1,000 shares during the last quarter. SG Americas Securities LLC purchased a new position in Third Coast Bancshares in the 3rd quarter worth approximately $115,000. AQR Capital Management LLC purchased a new position in Third Coast Bancshares in the 2nd quarter worth approximately $255,000. Finally, Seizert Capital Partners LLC purchased a new position in Third Coast Bancshares in the 3rd quarter worth approximately $321,000. 36.88% of the stock is owned by hedge funds and other institutional investors.
Third Coast Bancshares Stock Performance
Shares of NASDAQ:TCBX traded down $0.13 during midday trading on Monday, reaching $35.37. 44,788 shares of the company's stock traded hands, compared to its average volume of 43,457. Third Coast Bancshares, Inc. has a one year low of $17.56 and a one year high of $37.15. The company has a market cap of $483.83 million, a price-to-earnings ratio of 13.98 and a beta of 0.27. The stock has a 50 day moving average of $30.75 and a 200 day moving average of $25.43.
Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.53 by $0.21. Third Coast Bancshares had a return on equity of 10.14% and a net margin of 13.23%. The company had revenue of $85.24 million for the quarter, compared to analysts' expectations of $41.09 million. During the same period last year, the firm posted $0.32 earnings per share. Sell-side analysts predict that Third Coast Bancshares, Inc. will post 2.68 EPS for the current fiscal year.
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.
Featured Stories
Before you consider Third Coast Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Third Coast Bancshares wasn't on the list.
While Third Coast Bancshares currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
