Federated Hermes Inc. Buys 1,093 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Federated Hermes Inc. raised its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 196.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,649 shares of the company’s stock after buying an additional 1,093 shares during the quarter. Federated Hermes Inc.’s holdings in Third Coast Bancshares were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Kennedy Capital Management LLC grew its position in shares of Third Coast Bancshares by 51.5% in the 1st quarter. Kennedy Capital Management LLC now owns 329,063 shares of the company’s stock valued at $6,588,000 after purchasing an additional 111,915 shares during the period. Vanguard Group Inc. boosted its position in Third Coast Bancshares by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 635,569 shares of the company’s stock worth $12,724,000 after acquiring an additional 4,680 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Third Coast Bancshares during the fourth quarter worth $409,000. Empowered Funds LLC increased its stake in Third Coast Bancshares by 7.5% in 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. Finally, Steward Partners Investment Advisory LLC bought a new stake in Third Coast Bancshares during the 4th quarter worth about $606,000. Institutional investors own 36.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TCBX. Deutsche Bank Aktiengesellschaft boosted their price target 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $28.00 price objective (up from $26.00) on shares of Third Coast Bancshares in a research report on Monday, July 29th.

Third Coast Bancshares Trading Up 0.2 %

Third Coast Bancshares stock opened at $26.16 on Thursday. Third Coast Bancshares, Inc. has a 12 month low of $14.09 and a 12 month high of $28.25. The company has a market capitalization of $357.16 million, a price-to-earnings ratio of 12.89 and a beta of 0.30. The stock’s 50 day moving average is $24.31 and its 200-day moving average is $21.67.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $84.11 million for the quarter, compared to analyst estimates of $41.00 million. Third Coast Bancshares had a net margin of 11.54% and a return on equity of 8.72%. During the same period last year, the firm earned $0.53 earnings per share. As a group, equities research analysts predict that Third Coast Bancshares, Inc. will post 2.34 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.