Corton Capital Inc. Takes Position in Third Coast Bancshares, Inc. $TCBX

Corton Capital Inc. acquired a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,971 shares of the company’s stock, valued at approximately $228,000. Corton Capital Inc. owned 0.05% of Third Coast Bancshares at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TCBX. Ameritas Advisory Services LLC bought a new stake in Third Coast Bancshares during the 2nd quarter worth approximately $33,000. AlphaQuest LLC grew its position in Third Coast Bancshares by 729,700.0% during the 2nd quarter. AlphaQuest LLC now owns 7,298 shares of the company’s stock worth $238,000 after acquiring an additional 7,297 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Third Coast Bancshares during the 1st quarter worth approximately $246,000. Algert Global LLC grew its position in Third Coast Bancshares by 4.8% during the 1st quarter. Algert Global LLC now owns 8,020 shares of the company’s stock worth $268,000 after acquiring an additional 370 shares during the last quarter. Finally, PDT Partners LLC grew its position in Third Coast Bancshares by 11.0% during the 1st quarter. PDT Partners LLC now owns 8,251 shares of the company’s stock worth $275,000 after acquiring an additional 820 shares during the last quarter. 36.88% of the stock is currently owned by institutional investors.

Third Coast Bancshares Stock Performance

NASDAQ:TCBX opened at $36.49 on Tuesday. The stock’s fifty day moving average price is $38.84 and its two-hundred day moving average price is $35.32. Third Coast Bancshares, Inc. has a 52-week low of $25.17 and a 52-week high of $41.25. The company has a market cap of $505.79 million, a price-to-earnings ratio of 11.16 and a beta of 0.38.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TCBX shares. Zacks Research upgraded Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. Weiss Ratings restated a “buy (b)” rating on shares of Third Coast Bancshares in a research report on Saturday, September 27th. Keefe, Bruyette & Woods increased their price target on Third Coast Bancshares from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Finally, Stephens increased their price target on Third Coast Bancshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.67.

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.