Acadian Asset Management LLC Has $782,000 Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Acadian Asset Management LLC raised its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 1,244.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,790 shares of the company’s stock after purchasing an additional 34,053 shares during the quarter. Acadian Asset Management LLC owned 0.27% of Third Coast Bancshares worth $782,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kennedy Capital Management LLC grew its holdings in shares of Third Coast Bancshares by 51.5% during the first quarter. Kennedy Capital Management LLC now owns 329,063 shares of the company’s stock worth $6,588,000 after buying an additional 111,915 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Third Coast Bancshares by 0.7% in the first quarter. Vanguard Group Inc. now owns 635,569 shares of the company’s stock valued at $12,724,000 after purchasing an additional 4,680 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Third Coast Bancshares in the fourth quarter valued at approximately $409,000. Panagora Asset Management Inc. lifted its position in shares of Third Coast Bancshares by 24.0% in the fourth quarter. Panagora Asset Management Inc. now owns 25,888 shares of the company’s stock worth $514,000 after purchasing an additional 5,017 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Third Coast Bancshares by 7.5% during the first quarter. Empowered Funds LLC now owns 25,113 shares of the company’s stock worth $503,000 after purchasing an additional 1,750 shares during the last quarter. Institutional investors and hedge funds own 36.88% of the company’s stock.

Third Coast Bancshares Trading Down 0.4 %

Shares of TCBX opened at $26.90 on Wednesday. The company’s fifty day simple moving average is $23.70 and its 200 day simple moving average is $21.33. Third Coast Bancshares, Inc. has a 1-year low of $14.09 and a 1-year high of $27.54. The company has a market cap of $367.27 million, a price-to-earnings ratio of 13.25 and a beta of 0.30.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Third Coast Bancshares had a net margin of 11.54% and a return on equity of 8.72%. The company had revenue of $84.11 million during the quarter, compared to the consensus estimate of $41.00 million. During the same quarter last year, the firm posted $0.53 EPS. As a group, research analysts forecast that Third Coast Bancshares, Inc. will post 2.34 earnings per share for the current year.

Analyst Ratings Changes

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

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.