254,408 Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Acquired by Wasatch Advisors LP

Wasatch Advisors LP bought a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 254,408 shares of the company's stock, valued at approximately $6,811,000. Wasatch Advisors LP owned about 1.86% of Third Coast Bancshares at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its position in shares of Third Coast Bancshares by 121.7% in the first 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. Bank of New York Mellon Corp boosted its holdings in shares of Third Coast Bancshares by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,984 shares of the company's stock valued at $850,000 after purchasing an additional 1,038 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Third Coast Bancshares by 196.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,649 shares of the company's stock valued at $35,000 after buying an additional 1,093 shares during the period. Martingale Asset Management L P increased its holdings in shares of Third Coast Bancshares by 3.3% during the 3rd quarter. Martingale Asset Management L P now owns 34,092 shares of the company's stock worth $913,000 after buying an additional 1,101 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Third Coast Bancshares by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 28,253 shares of the company's stock worth $756,000 after buying an additional 1,340 shares during the period. 36.88% of the stock is currently owned by hedge funds and other institutional investors.

Third Coast Bancshares Price Performance

TCBX stock traded up $0.09 during trading on Friday, reaching $35.50. 70,266 shares of the stock traded hands, compared to its average volume of 117,318. The firm has a market capitalization of $485.64 million, a PE ratio of 13.92 and a beta of 0.27. The business's 50 day moving average price is $30.75 and its 200-day moving average price is $25.40. Third Coast Bancshares, Inc. has a 52-week low of $16.73 and a 52-week high of $37.15.

Third Coast Bancshares (NASDAQ:TCBX - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $85.24 million during the quarter, compared to analysts' expectations of $41.09 million. During the same quarter in the previous year, the business earned $0.32 EPS. On average, equities research analysts predict that Third Coast Bancshares, Inc. will post 2.68 earnings per share for the current year.

About Third Coast Bancshares

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.