Banc Funds Co. LLC Reduces Stock Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Banc Funds Co. LLC decreased its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 11.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 432,745 shares of the company’s stock after selling 54,909 shares during the period. Banc Funds Co. LLC’s holdings in Third Coast Bancshares were worth $11,585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TCBX. Federated Hermes Inc. grew its holdings in shares of Third Coast Bancshares by 196.6% in the second 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 last quarter. Russell Investments Group Ltd. boosted its position 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 valued at $36,000 after buying an additional 1,000 shares during the period. SG Americas Securities LLC bought a new position in Third Coast Bancshares in the 3rd quarter worth about $115,000. Seizert Capital Partners LLC purchased a new position in shares of Third Coast Bancshares during the third quarter worth approximately $321,000. Finally, AQR Capital Management LLC bought a new stake in shares of Third Coast Bancshares during the second quarter valued at approximately $255,000. 36.88% of the stock is currently owned by institutional investors.

Third Coast Bancshares Stock Up 0.3 %

Shares of NASDAQ:TCBX opened at $35.50 on Monday. The business’s 50 day moving average is $30.75 and its 200 day moving average is $25.40. The stock has a market cap of $485.64 million, a P/E ratio of 13.92 and a beta of 0.27. 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) last posted its quarterly 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. The business had revenue of $85.24 million for the quarter, compared to the consensus estimate of $41.09 million. Third Coast Bancshares had a return on equity of 10.14% and a net margin of 13.23%. During the same quarter in the prior year, the company earned $0.32 EPS. On average, sell-side analysts anticipate that Third Coast Bancshares, Inc. will post 2.68 EPS for the current fiscal year.

Third Coast Bancshares Company 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.