Banc Funds Co. LLC Cuts Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Banc Funds Co. LLC trimmed its position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,745 shares of the company’s stock after selling 54,909 shares during the period. Banc Funds Co. LLC owned approximately 3.16% of Third Coast Bancshares worth $11,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of TCBX. Federated Hermes Inc. increased its position in Third Coast Bancshares by 196.6% in the second quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock worth $35,000 after purchasing an additional 1,093 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Third Coast Bancshares by 121.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,822 shares of the company’s stock valued at $36,000 after buying an additional 1,000 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Third Coast Bancshares in the 3rd quarter valued at about $115,000. AQR Capital Management LLC purchased a new position in Third Coast Bancshares in the second quarter worth about $255,000. Finally, Seizert Capital Partners LLC bought a new stake in Third Coast Bancshares during the third quarter worth approximately $321,000. 36.88% of the stock is owned by hedge funds and other institutional investors.

Third Coast Bancshares Price Performance

Shares of TCBX stock opened at $35.50 on Monday. The company has a market cap of $485.64 million, a PE ratio of 13.92 and a beta of 0.27. Third Coast Bancshares, Inc. has a 1 year low of $16.73 and a 1 year high of $37.15. The stock’s 50 day simple moving average is $30.75 and its two-hundred day simple moving average is $25.40.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.21. The company had revenue of $85.24 million for the quarter, compared to analyst estimates of $41.09 million. Third Coast Bancshares had a return on equity of 10.14% and a net margin of 13.23%. During the same quarter in the prior year, the firm posted $0.32 EPS. Equities research analysts expect that Third Coast Bancshares, Inc. will post 2.68 EPS for the current year.

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.