Wellington Management Group LLP Makes New $1.44 Million Investment in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Wellington Management Group LLP acquired a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,896 shares of the company's stock, valued at approximately $1,443,000. Wellington Management Group LLP owned 0.39% of Third Coast Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Third Coast Bancshares by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 39,984 shares of the company's stock worth $850,000 after purchasing an additional 1,038 shares during the last quarter. Federated Hermes Inc. grew its position in Third Coast Bancshares by 196.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,649 shares of the company's stock worth $35,000 after purchasing an additional 1,093 shares during the period. Martingale Asset Management L P raised its stake 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 valued at $913,000 after buying an additional 1,101 shares during the last quarter. Empowered Funds LLC lifted its holdings 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 valued at $756,000 after buying an additional 1,340 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Third Coast Bancshares by 1.8% in the third quarter. Blue Trust Inc. now owns 147,082 shares of the company's stock worth $3,937,000 after buying an additional 2,632 shares during the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

Third Coast Bancshares Stock Performance

Third Coast Bancshares stock traded down $0.54 during midday trading on Thursday, hitting $33.47. 104,020 shares of the company were exchanged, compared to its average volume of 45,912. The business has a fifty day simple moving average of $33.31 and a two-hundred day simple moving average of $26.72. The firm has a market capitalization of $457.84 million, a PE ratio of 13.13 and a beta of 0.27. Third Coast Bancshares, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $37.65.

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

Insider Buying and Selling at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora purchased 1,450 shares of Third Coast Bancshares stock in a transaction that occurred on Thursday, December 5th. The stock was bought at an average price of $35.33 per share, with a total value of $51,228.50. Following the acquisition, the insider now owns 6,050 shares of the company's stock, valued at $213,746.50. This trade represents a 31.52 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.20% of the stock is owned by corporate insiders.

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.