AQR Capital Management LLC Purchases New Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

AQR Capital Management LLC acquired a new stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,992 shares of the company’s stock, valued at approximately $255,000. AQR Capital Management LLC owned 0.09% of Third Coast Bancshares as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Kennedy Capital Management LLC boosted its position in shares of Third Coast Bancshares by 51.5% during the first quarter. Kennedy Capital Management LLC now owns 329,063 shares of the company’s stock worth $6,588,000 after purchasing an additional 111,915 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Third Coast Bancshares by 0.7% during the first quarter. Vanguard Group Inc. now owns 635,569 shares of the company’s stock worth $12,724,000 after acquiring an additional 4,680 shares in the last quarter. BlackBarn Capital Partners LP raised its holdings in Third Coast Bancshares by 14.7% during the 2nd quarter. BlackBarn Capital Partners LP now owns 150,000 shares of the company’s stock worth $3,190,000 after buying an additional 19,219 shares during the period. Quadrature Capital Ltd bought a new position in Third Coast Bancshares in the fourth quarter valued at approximately $409,000. Finally, Empowered Funds LLC boosted its holdings in shares of Third Coast Bancshares by 7.5% in the first quarter. Empowered Funds LLC now owns 25,113 shares of the company’s stock valued at $503,000 after buying an additional 1,750 shares during the period. Institutional investors own 36.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $28.00 price objective (up from $26.00) on shares of Third Coast Bancshares in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Third Coast Bancshares from $22.00 to $26.00 and gave the company a “hold” rating in a report on Monday, July 29th.

Third Coast Bancshares Stock Performance

Shares of TCBX stock opened at $28.56 on Friday. Third Coast Bancshares, Inc. has a 52-week low of $14.09 and a 52-week high of $28.60. The stock has a market cap of $390.42 million, a price-to-earnings ratio of 13.41 and a beta of 0.30. The firm’s 50-day moving average is $25.25 and its 200-day moving average is $22.37.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. Third Coast Bancshares had a return on equity of 8.72% and a net margin of 11.54%. The firm had revenue of $84.11 million for the quarter, compared to analyst estimates of $41.00 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. Sell-side analysts predict that Third Coast Bancshares, Inc. will post 2.34 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.