Kennedy Capital Management LLC Acquires 111,915 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Kennedy Capital Management LLC increased its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 51.5% during the first quarter, HoldingsChannel reports. The firm owned 329,063 shares of the company’s stock after buying an additional 111,915 shares during the period. Kennedy Capital Management LLC’s holdings in Third Coast Bancshares were worth $6,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in Third Coast Bancshares by 121.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,822 shares of the company’s stock worth $36,000 after buying an additional 1,000 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Third Coast Bancshares during the 1st quarter valued at about $54,000. New York State Common Retirement Fund grew its stake in shares of Third Coast Bancshares by 56.5% in the fourth quarter. New York State Common Retirement Fund now owns 5,013 shares of the company’s stock worth $100,000 after acquiring an additional 1,810 shares during the period. SG Americas Securities LLC purchased a new position in shares of Third Coast Bancshares during the fourth quarter valued at approximately $134,000. Finally, Quadrature Capital Ltd bought a new position in Third Coast Bancshares during the fourth quarter valued at approximately $409,000. 36.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $28.00 target price (up previously from $26.00) on shares of Third Coast Bancshares in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on Third Coast Bancshares from $22.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday.

Third Coast Bancshares Stock Down 0.1 %

TCBX traded down $0.02 during trading on Wednesday, hitting $23.68. The company’s stock had a trading volume of 134 shares, compared to its average volume of 31,247. The firm has a market cap of $323.23 million, a PE ratio of 11.67 and a beta of 0.30. Third Coast Bancshares, Inc. has a one year low of $14.09 and a one year high of $26.38. The business’s 50 day simple moving average is $21.37 and its 200-day simple moving average is $20.22.

Third Coast Bancshares (NASDAQ:TCBX) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. Third Coast Bancshares had a return on equity of 8.84% and a net margin of 11.54%. The business had revenue of $84.11 million during the quarter, compared to analyst estimates of $41.00 million. During the same quarter in the prior year, the business posted $0.53 EPS. Equities research analysts expect that Third Coast Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Insider Activity at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora bought 1,500 shares of Third Coast Bancshares stock in a transaction dated Thursday, May 16th. The shares were purchased at an average cost of $21.32 per share, for a total transaction of $31,980.00. Following the acquisition, the insider now directly owns 2,600 shares in the company, valued at approximately $55,432. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.20% of the stock is owned by corporate insiders.

Third Coast Bancshares 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.