AlphaQuest LLC Buys 7,297 Shares of Third Coast Bancshares, Inc. $TCBX

AlphaQuest LLC lifted its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 729,700.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,298 shares of the company’s stock after acquiring an additional 7,297 shares during the quarter. AlphaQuest LLC owned 0.05% of Third Coast Bancshares worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Third Coast Bancshares during the 1st quarter valued at $3,168,000. Millennium Management LLC grew its holdings in shares of Third Coast Bancshares by 88.2% in the first quarter. Millennium Management LLC now owns 177,521 shares of the company’s stock worth $5,924,000 after acquiring an additional 83,209 shares during the period. Invesco Ltd. bought a new stake in shares of Third Coast Bancshares in the first quarter worth $2,732,000. Adage Capital Partners GP L.L.C. increased its position in Third Coast Bancshares by 19.1% during the first quarter. Adage Capital Partners GP L.L.C. now owns 399,335 shares of the company’s stock valued at $13,326,000 after acquiring an additional 64,047 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Third Coast Bancshares by 38.6% in the first quarter. American Century Companies Inc. now owns 196,515 shares of the company’s stock valued at $6,558,000 after acquiring an additional 54,750 shares during the period. 36.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TCBX shares. Stephens boosted their price target on Third Coast Bancshares from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Third Coast Bancshares in a research note on Saturday, September 27th. Keefe, Bruyette & Woods boosted their target price on shares of Third Coast Bancshares from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Zacks Research raised shares of Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Third Coast Bancshares has an average rating of “Moderate Buy” and a consensus target price of $42.67.

Third Coast Bancshares Stock Down 0.2%

Shares of Third Coast Bancshares stock opened at $36.75 on Friday. Third Coast Bancshares, Inc. has a 52 week low of $25.17 and a 52 week high of $41.25. The company has a market capitalization of $509.41 million, a price-to-earnings ratio of 11.24 and a beta of 0.38. The stock’s 50-day simple moving average is $38.90 and its 200-day simple moving average is $35.22.

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.