SG Americas Securities LLC Acquires New Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

SG Americas Securities LLC bought a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) during the fourth quarter, HoldingsChannel reports. The fund bought 6,742 shares of the company’s stock, valued at approximately $134,000.

Other institutional investors also recently modified their holdings of the company. Bailard Inc. acquired a new stake in Third Coast Bancshares during the 3rd quarter worth approximately $298,000. Kennedy Capital Management LLC grew its stake in shares of Third Coast Bancshares by 13.9% in the third quarter. Kennedy Capital Management LLC now owns 217,353 shares of the company’s stock worth $3,717,000 after purchasing an additional 26,592 shares during the last quarter. Doliver Advisors LP acquired a new stake in Third Coast Bancshares in the fourth quarter valued at $308,000. Panagora Asset Management Inc. bought a new position in Third Coast Bancshares during the 3rd quarter worth $357,000. Finally, Salzhauer Michael lifted its holdings in Third Coast Bancshares by 25.9% during the 3rd quarter. Salzhauer Michael now owns 21,912 shares of the company’s stock worth $375,000 after buying an additional 4,501 shares during the period. 36.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on TCBX. Keefe, Bruyette & Woods began coverage on Third Coast Bancshares in a research note on Thursday, January 11th. They issued an “outperform” rating and a $26.00 price target for the company. Raymond James increased their target price on shares of Third Coast Bancshares from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, January 29th.

Third Coast Bancshares Trading Down 0.4 %

Shares of Third Coast Bancshares stock opened at $18.23 on Thursday. The business has a 50-day moving average price of $19.32 and a two-hundred day moving average price of $18.42. Third Coast Bancshares, Inc. has a 1-year low of $12.31 and a 1-year high of $21.50. The company has a market cap of $248.06 million, a P/E ratio of 9.25 and a beta of 0.65.

Third Coast Bancshares (NASDAQ:TCBX) last announced its earnings results on Thursday, January 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $39.49 million for the quarter, compared to analyst estimates of $37.74 million. Third Coast Bancshares had a return on equity of 8.38% and a net margin of 12.16%. Equities research analysts forecast that Third Coast Bancshares, Inc. will post 2.06 EPS 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.