Kennedy Capital Management LLC Has $6.59 Million Stock Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Kennedy Capital Management LLC lifted its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 51.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 329,063 shares of the company’s stock after acquiring an additional 111,915 shares during the period. Kennedy Capital Management LLC owned about 2.41% of Third Coast Bancshares worth $6,588,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. grew its position in Third Coast Bancshares by 121.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,822 shares of the company’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Third Coast Bancshares by 7.5% during 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 in the last quarter. New York State Common Retirement Fund raised its position in Third Coast Bancshares by 56.5% during the fourth quarter. New York State Common Retirement Fund now owns 5,013 shares of the company’s stock valued at $100,000 after buying an additional 1,810 shares during the period. Acadian Asset Management LLC purchased a new stake in Third Coast Bancshares in the 1st quarter worth about $54,000. Finally, Vanguard Group Inc. boosted its position in Third Coast Bancshares by 0.7% during the 1st 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 during the period. Institutional investors and hedge funds own 36.88% of the company’s stock.

Insider Buying and Selling

In related news, insider William Bobbora bought 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $21.32 per share, for a total transaction of $31,980.00. Following the completion of the acquisition, the insider now directly owns 2,600 shares in the company, valued at $55,432. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 10.20% of the stock is currently owned by corporate insiders.

Third Coast Bancshares Stock Down 0.1 %

Shares of TCBX traded down $0.02 during midday trading on Wednesday, reaching $23.68. 134 shares of the stock were exchanged, compared to its average volume of 31,247. The company has a market cap of $323.23 million, a price-to-earnings ratio of 11.67 and a beta of 0.30. Third Coast Bancshares, Inc. has a 12-month low of $14.09 and a 12-month high of $26.38. The firm has a 50 day simple moving average of $21.37 and a 200-day simple moving average of $20.22.

Third Coast Bancshares (NASDAQ:TCBX) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.08. The firm had revenue of $84.11 million for the quarter, compared to analyst estimates of $41.00 million. Third Coast Bancshares had a net margin of 11.54% and a return on equity of 8.84%. During the same quarter last year, the firm earned $0.53 earnings per share. Research analysts expect that Third Coast Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.