Connor Clark & Lunn Investment Management Ltd. Purchases 17,114 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) by 100.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,199 shares of the company's stock after acquiring an additional 17,114 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.25% of Third Coast Bancshares worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in Third Coast Bancshares by 196.6% in the second quarter. Federated Hermes Inc. now owns 1,649 shares of the company's stock valued at $35,000 after acquiring an additional 1,093 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Third Coast Bancshares by 121.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,822 shares of the company's stock valued at $36,000 after purchasing an additional 1,000 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Third Coast Bancshares during the first quarter worth about $54,000. SG Americas Securities LLC acquired a new position in Third Coast Bancshares in the 3rd quarter valued at $115,000. Finally, AQR Capital Management LLC purchased a new position in Third Coast Bancshares in the second quarter worth $255,000. 36.88% of the stock is currently owned by institutional investors and hedge funds.

Third Coast Bancshares Stock Down 1.6 %

Shares of Third Coast Bancshares stock traded down $0.59 during trading on Thursday, hitting $35.41. 48,291 shares of the company were exchanged, compared to its average volume of 43,337. Third Coast Bancshares, Inc. has a fifty-two week low of $16.52 and a fifty-two week high of $37.15. The stock has a market capitalization of $484.41 million, a price-to-earnings ratio of 13.89 and a beta of 0.27. The firm has a 50 day moving average price of $30.45 and a 200 day moving average price of $25.20.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.21. The firm had revenue of $85.24 million during the quarter, compared to analysts' expectations of $41.09 million. Third Coast Bancshares had a net margin of 13.23% and a return on equity of 10.14%. During the same period in the prior year, the company earned $0.32 EPS. Analysts predict that Third Coast Bancshares, Inc. will post 2.68 earnings per share for the current year.

Third Coast Bancshares Profile

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.