Deroy & Devereaux Private Investment Counsel Inc. Takes $3.46 Million Position in Third Coast Bancshares, Inc. $TCBX

Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 91,170 shares of the company’s stock, valued at approximately $3,462,000. Deroy & Devereaux Private Investment Counsel Inc. owned 0.66% of Third Coast Bancshares as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TCBX. AQR Capital Management LLC lifted its holdings in Third Coast Bancshares by 21.7% during the first quarter. AQR Capital Management LLC now owns 38,431 shares of the company’s stock valued at $1,282,000 after purchasing an additional 6,857 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Third Coast Bancshares by 88.2% during the 1st quarter. Millennium Management LLC now owns 177,521 shares of the company’s stock valued at $5,924,000 after buying an additional 83,209 shares in the last quarter. Empowered Funds LLC boosted its holdings in Third Coast Bancshares by 43.6% in the 1st quarter. Empowered Funds LLC now owns 42,604 shares of the company’s stock worth $1,422,000 after buying an additional 12,945 shares during the period. Focus Partners Wealth boosted its holdings in Third Coast Bancshares by 32,994.4% in the 1st quarter. Focus Partners Wealth now owns 41,699 shares of the company’s stock worth $1,391,000 after buying an additional 41,573 shares during the period. Finally, Strs Ohio purchased a new position in Third Coast Bancshares in the 1st quarter valued at approximately $521,000. 36.88% of the stock is currently owned by institutional investors.

Third Coast Bancshares Stock Performance

Shares of TCBX stock opened at $38.68 on Friday. The company has a market capitalization of $537.35 million, a PE ratio of 11.83 and a beta of 0.37. Third Coast Bancshares, Inc. has a 52-week low of $25.17 and a 52-week high of $41.70. The business’s fifty day moving average is $38.48 and its 200 day moving average is $38.06.

Third Coast Bancshares (NASDAQ:TCBX) last announced its earnings results on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter. Third Coast Bancshares had a return on equity of 12.05% and a net margin of 16.30%.The business had revenue of $54.48 million for the quarter. On average, sell-side analysts forecast that Third Coast Bancshares, Inc. will post 3.1 EPS for the current fiscal year.

Analysts Set New Price Targets

TCBX has been the topic of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Third Coast Bancshares in a research report on Saturday, September 27th. Zacks Research cut Third Coast Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Stephens raised their target price on Third Coast Bancshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods lifted their target price on Third Coast Bancshares from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.67.

Insider Buying and Selling at Third Coast Bancshares

In related news, Director W. Donald Brunson sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $38.55, for a total value of $57,825.00. Following the transaction, the director directly owned 37,268 shares in the company, valued at approximately $1,436,681.40. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.28% of the company’s stock.

Third Coast Bancshares 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. It also offers commercial and industrial loans, equipment loans, working capital lines of credit, guaranteed loans, auto finance, letters of credit, commercial and residential real estate, and construction, development, and other loans.