SG Americas Securities LLC Invests $115,000 in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

SG Americas Securities LLC acquired a new stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,283 shares of the company’s stock, valued at approximately $115,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. grew its stake in Third Coast Bancshares by 196.6% in the second quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock valued at $35,000 after purchasing an additional 1,093 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Third Coast Bancshares by 121.7% in the first quarter. Russell Investments Group Ltd. now owns 1,822 shares of the company’s stock valued at $36,000 after acquiring an additional 1,000 shares during the period. Acadian Asset Management LLC acquired a new position in Third Coast Bancshares in the first quarter valued at approximately $54,000. AQR Capital Management LLC acquired a new position in shares of Third Coast Bancshares during the 2nd quarter worth approximately $255,000. Finally, Empowered Funds LLC raised its stake in shares of Third Coast Bancshares by 7.5% during the 1st quarter. Empowered Funds LLC now owns 25,113 shares of the company’s stock worth $503,000 after buying an additional 1,750 shares during the period. 36.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TCBX has been the subject of several research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $28.00 price target (up from $26.00) on shares of Third Coast Bancshares in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their target price on Third Coast Bancshares from $22.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, July 29th.

Third Coast Bancshares Stock Performance

TCBX opened at $31.09 on Friday. Third Coast Bancshares, Inc. has a one year low of $14.09 and a one year high of $31.23. The company has a market cap of $425.00 million, a P/E ratio of 14.60 and a beta of 0.30. The business’s 50-day simple moving average is $26.17 and its 200-day simple moving average is $22.84.

Third Coast Bancshares (NASDAQ:TCBX) last released 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 firm 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 8.72% and a net margin of 11.54%. During the same quarter last year, the business posted $0.32 EPS. As a group, analysts predict that Third Coast Bancshares, Inc. will post 2.34 earnings per share for the current fiscal year.

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.