Connor Clark & Lunn Investment Management Ltd. Grows Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 100.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,199 shares of the company’s stock after purchasing an additional 17,114 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.25% of Third Coast Bancshares worth $916,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Seizert Capital Partners LLC purchased a new stake in Third Coast Bancshares in the third quarter valued at approximately $321,000. Empowered Funds LLC lifted its position in Third Coast Bancshares by 5.0% during the third 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 in the last quarter. Blue Trust Inc. lifted its position in Third Coast Bancshares by 1.8% during the third quarter. Blue Trust Inc. now owns 147,082 shares of the company’s stock valued at $3,937,000 after buying an additional 2,632 shares in the last quarter. Inspire Investing LLC acquired a new position in Third Coast Bancshares during the third quarter valued at approximately $823,000. Finally, SG Americas Securities LLC acquired a new position in Third Coast Bancshares during the third quarter valued at approximately $115,000. 36.88% of the stock is currently owned by hedge funds and other institutional investors.

Third Coast Bancshares Stock Down 1.6 %

Shares of TCBX stock opened at $35.41 on Thursday. The stock has a market cap of $484.41 million, a price-to-earnings ratio of 13.88 and a beta of 0.27. Third Coast Bancshares, Inc. has a fifty-two week low of $16.52 and a fifty-two week high of $37.15. The firm’s 50 day moving average price is $30.28 and its two-hundred day moving average price is $25.12.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.21. The firm had revenue of $85.24 million for the quarter, compared to analysts’ expectations of $41.09 million. Third Coast Bancshares had a net margin of 13.23% and a return on equity of 10.14%. During the same period in the previous year, the company posted $0.32 earnings per share. On average, equities analysts forecast 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.