Banc Funds Co. LLC Reduces Stake in Third Coast Bancshares, Inc. $TCBX

Banc Funds Co. LLC reduced its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 16.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 179,383 shares of the company’s stock after selling 36,000 shares during the quarter. Banc Funds Co. LLC’s holdings in Third Coast Bancshares were worth $6,811,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Ameritas Investment Partners Inc. raised its holdings in shares of Third Coast Bancshares by 37.2% during the second quarter. Ameritas Investment Partners Inc. now owns 1,314 shares of the company’s stock valued at $43,000 after acquiring an additional 356 shares in the last quarter. CWM LLC boosted its stake in shares of Third Coast Bancshares by 25.4% during the 3rd quarter. CWM LLC now owns 2,456 shares of the company’s stock valued at $93,000 after purchasing an additional 498 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Third Coast Bancshares by 7.5% during the 2nd quarter. First Trust Advisors LP now owns 8,873 shares of the company’s stock valued at $290,000 after purchasing an additional 616 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Third Coast Bancshares by 3.7% during the second quarter. Quantinno Capital Management LP now owns 20,057 shares of the company’s stock valued at $655,000 after buying an additional 708 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Third Coast Bancshares during the second quarter valued at about $29,000. 36.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Third Coast Bancshares news, insider William Bobbora acquired 1,200 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were acquired at an average price of $39.62 per share, for a total transaction of $47,544.00. Following the completion of the acquisition, the insider owned 48,306 shares in the company, valued at $1,913,883.72. This trade represents a 2.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TCBX has been the subject of several research analyst reports. Zacks Research upgraded shares of Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods increased their target price on Third Coast Bancshares from $43.00 to $45.00 and gave the stock a “market perform” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.50.

Third Coast Bancshares Price Performance

NASDAQ:TCBX opened at $37.37 on Friday. The firm’s 50-day moving average price is $40.11 and its 200-day moving average price is $39.14. The company has a market capitalization of $616.15 million, a PE ratio of 11.43 and a beta of 0.38. Third Coast Bancshares, Inc. has a 1-year low of $25.17 and a 1-year high of $43.84.

Third Coast Bancshares Company 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.