Empowered Funds LLC Acquires 1,340 Shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Empowered Funds LLC grew its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,253 shares of the company’s stock after buying an additional 1,340 shares during the period. Empowered Funds LLC’s holdings in Third Coast Bancshares were worth $756,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Federated Hermes Inc. lifted its holdings in Third Coast Bancshares by 196.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock valued at $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% in the first quarter. Russell Investments Group Ltd. now owns 1,822 shares of the company’s stock valued at $36,000 after purchasing an additional 1,000 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Third Coast Bancshares during the 1st quarter worth about $54,000. SG Americas Securities LLC bought a new stake in shares of Third Coast Bancshares during the 3rd quarter worth about $115,000. Finally, AQR Capital Management LLC bought a new stake in shares of Third Coast Bancshares during the 2nd quarter worth about $255,000. 36.88% of the stock is currently owned by institutional investors.

Third Coast Bancshares Price Performance

TCBX opened at $36.12 on Friday. Third Coast Bancshares, Inc. has a fifty-two week low of $16.52 and a fifty-two week high of $36.20. The company’s 50 day moving average price is $29.91 and its two-hundred day moving average price is $24.87. The firm has a market capitalization of $494.12 million, a price-to-earnings ratio of 14.16 and a beta of 0.27.

Third Coast Bancshares (NASDAQ:TCBX) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.21. The company had revenue of $85.24 million during the quarter, compared to analysts’ expectations of $41.09 million. Third Coast Bancshares had a net margin of 13.23% and a return on equity of 10.14%. During the same period in the prior year, the company posted $0.32 earnings per share. As a group, equities research analysts predict that Third Coast Bancshares, Inc. will post 2.68 EPS for the current year.

Analyst Upgrades and Downgrades

TCBX has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $28.00 price target (up from $26.00) on shares of Third Coast Bancshares in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their target price on Third Coast Bancshares from $22.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, July 29th.

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.