State Street Corp Purchases 13,948 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

State Street Corp lifted its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 6.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 218,514 shares of the company’s stock after buying an additional 13,948 shares during the period. State Street Corp owned about 1.60% of Third Coast Bancshares worth $5,850,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Federated Hermes Inc. grew its holdings in shares of Third Coast Bancshares by 196.6% during the second quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock worth $35,000 after purchasing an additional 1,093 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Third Coast Bancshares during the 3rd quarter worth about $115,000. AQR Capital Management LLC acquired a new stake in shares of Third Coast Bancshares in the 2nd quarter valued at about $255,000. Seizert Capital Partners LLC bought a new stake in shares of Third Coast Bancshares during the third quarter valued at approximately $321,000. Finally, Empowered Funds LLC raised its holdings in Third Coast Bancshares by 5.0% during the third quarter. Empowered Funds LLC now owns 28,253 shares of the company’s stock worth $756,000 after buying an additional 1,340 shares during the last quarter. 36.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora purchased 1,450 shares of the stock in a transaction dated Thursday, December 5th. The shares were bought at an average price of $35.33 per share, with a total value of $51,228.50. Following the completion of the transaction, the insider now directly owns 6,050 shares in the company, valued at approximately $213,746.50. This trade represents a 31.52 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10.20% of the stock is owned by company insiders.

Third Coast Bancshares Stock Performance

TCBX stock opened at $34.13 on Friday. The business has a 50-day simple moving average of $34.23 and a two-hundred day simple moving average of $27.36. Third Coast Bancshares, Inc. has a 52-week low of $18.00 and a 52-week high of $37.65. The company has a market capitalization of $466.86 million, a P/E ratio of 13.38 and a beta of 0.27.

Third Coast Bancshares (NASDAQ:TCBX) last released its earnings results on Wednesday, October 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.21. The company had revenue of $85.24 million during the quarter, compared to analyst estimates of $41.09 million. Third Coast Bancshares had a return on equity of 10.14% and a net margin of 13.23%. During the same period in the prior year, the company posted $0.32 earnings per share. As a group, sell-side analysts forecast that Third Coast Bancshares, Inc. will post 2.68 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.