BlackBarn Capital Partners LP Boosts Stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

BlackBarn Capital Partners LP increased its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 14.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,000 shares of the company’s stock after purchasing an additional 19,219 shares during the quarter. Third Coast Bancshares accounts for 0.3% of BlackBarn Capital Partners LP’s portfolio, making the stock its 17th biggest holding. BlackBarn Capital Partners LP owned about 1.10% of Third Coast Bancshares worth $3,190,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Federated Hermes Inc. lifted its stake in Third Coast Bancshares by 196.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock valued at $35,000 after acquiring an additional 1,093 shares during the period. Russell Investments Group Ltd. lifted its position in Third Coast Bancshares by 121.7% during the first quarter. Russell Investments Group Ltd. now owns 1,822 shares of the company’s stock valued at $36,000 after purchasing an additional 1,000 shares during the period. Acadian Asset Management LLC purchased a new stake in Third Coast Bancshares in the first quarter worth approximately $54,000. Quadrature Capital Ltd bought a new stake in Third Coast Bancshares in the 4th quarter worth approximately $409,000. Finally, Empowered Funds LLC raised its stake in Third Coast Bancshares by 7.5% during the 1st 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 during the last quarter. 36.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TCBX. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $28.00 price target (up from $26.00) on shares of Third Coast Bancshares in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on Third Coast Bancshares from $22.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, July 29th.

Third Coast Bancshares Price Performance

Shares of TCBX stock opened at $26.11 on Wednesday. The company has a market cap of $356.66 million, a price-to-earnings ratio of 12.86 and a beta of 0.30. Third Coast Bancshares, Inc. has a 1 year low of $14.09 and a 1 year high of $28.25. The firm has a fifty day moving average price of $24.26 and a 200-day moving average price of $21.64.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. Third Coast Bancshares had a return on equity of 8.72% 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 previous year, the company posted $0.53 earnings per share. Equities research analysts expect that Third Coast Bancshares, Inc. will post 2.34 EPS for the current year.

Third Coast Bancshares Company 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.