6,742 Shares in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Purchased by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,742 shares of the company’s stock, valued at approximately $134,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its position in Third Coast Bancshares by 10.9% in the second quarter. BlackRock Inc. now owns 853,843 shares of the company’s stock valued at $13,550,000 after acquiring an additional 84,027 shares during the period. Vanguard Group Inc. grew its holdings in shares of Third Coast Bancshares by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 625,707 shares of the company’s stock worth $10,700,000 after purchasing an additional 1,730 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Third Coast Bancshares by 2.1% in the 3rd quarter. Alliancebernstein L.P. now owns 395,555 shares of the company’s stock worth $6,768,000 after purchasing an additional 8,280 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Third Coast Bancshares by 1.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 308,597 shares of the company’s stock worth $7,129,000 after purchasing an additional 4,291 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Third Coast Bancshares by 5.3% during the 2nd quarter. Geode Capital Management LLC now owns 248,007 shares of the company’s stock valued at $3,936,000 after purchasing an additional 12,578 shares during the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

Third Coast Bancshares Price Performance

TCBX opened at $18.23 on Thursday. The company’s 50 day simple moving average is $19.32 and its 200-day simple moving average is $18.42. Third Coast Bancshares, Inc. has a one year low of $12.31 and a one year high of $21.50. The stock has a market capitalization of $248.06 million, a P/E ratio of 9.25 and a beta of 0.65.

Third Coast Bancshares (NASDAQ:TCBX) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. Third Coast Bancshares had a return on equity of 8.38% and a net margin of 12.16%. The business had revenue of $39.49 million during the quarter, compared to analyst estimates of $37.74 million. As a group, analysts anticipate that Third Coast Bancshares, Inc. will post 2.06 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on TCBX. Keefe, Bruyette & Woods started coverage on shares of Third Coast Bancshares in a research note on Thursday, January 11th. They set an “outperform” rating and a $26.00 price objective on the stock. Raymond James raised their price target on Third Coast Bancshares from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, January 29th.

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.