Geode Capital Management LLC Increases Stock Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Geode Capital Management LLC grew its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,962 shares of the company’s stock after purchasing an additional 3,373 shares during the quarter. Geode Capital Management LLC owned approximately 2.01% of Third Coast Bancshares worth $7,363,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TCBX. Wasatch Advisors LP acquired a new stake in Third Coast Bancshares during the 3rd quarter valued at $6,811,000. State Street Corp lifted its position in shares of Third Coast Bancshares by 6.8% in the third quarter. State Street Corp now owns 218,514 shares of the company’s stock valued at $5,850,000 after acquiring an additional 13,948 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Third Coast Bancshares by 18.3% during the second quarter. Dimensional Fund Advisors LP now owns 190,819 shares of the company’s stock valued at $4,058,000 after acquiring an additional 29,516 shares during the last quarter. BlackBarn Capital Partners LP increased its position in Third Coast Bancshares by 14.7% during the 2nd quarter. BlackBarn Capital Partners LP now owns 150,000 shares of the company’s stock worth $3,190,000 after purchasing an additional 19,219 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Third Coast Bancshares by 1.8% in the 3rd quarter. Blue Trust Inc. now owns 147,082 shares of the company’s stock valued at $3,937,000 after purchasing an additional 2,632 shares during the last quarter. 36.88% of the stock is owned by hedge funds and other institutional investors.

Third Coast Bancshares Trading Down 3.3 %

NASDAQ:TCBX opened at $32.84 on Friday. Third Coast Bancshares, Inc. has a 12-month low of $18.00 and a 12-month high of $37.65. The firm has a market cap of $449.22 million, a price-to-earnings ratio of 12.88 and a beta of 0.27. The company’s 50-day moving average is $34.69 and its two-hundred day moving average is $27.75.

Third Coast Bancshares (NASDAQ:TCBX) last announced its quarterly earnings data 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. Third Coast Bancshares had a net margin of 13.23% and a return on equity of 10.14%. The business had revenue of $85.24 million for the quarter, compared to the consensus estimate of $41.09 million. During the same quarter in the prior year, the firm posted $0.32 earnings per share. On average, equities research analysts forecast that Third Coast Bancshares, Inc. will post 2.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider William Bobbora acquired 1,450 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was bought at an average price of $35.33 per share, with a total value of $51,228.50. Following the purchase, the insider now directly owns 6,050 shares in the company, valued at $213,746.50. The trade was a 31.52 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.20% of the company’s stock.

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.