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

Empowered Funds LLC boosted its holdings in shares of 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 firm owned 28,253 shares of the company’s stock after purchasing an additional 1,340 shares during the period. Empowered Funds LLC owned about 0.21% of Third Coast Bancshares worth $756,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC grew its holdings in shares of Third Coast Bancshares by 51.5% during the first quarter. Kennedy Capital Management LLC now owns 329,063 shares of the company’s stock worth $6,588,000 after purchasing an additional 111,915 shares during the last quarter. Acadian Asset Management LLC lifted its position in Third Coast Bancshares by 1,244.2% during the 2nd quarter. Acadian Asset Management LLC now owns 36,790 shares of the company’s stock worth $782,000 after buying an additional 34,053 shares in the last quarter. Inspire Investing LLC bought a new stake in Third Coast Bancshares during the 3rd quarter worth about $823,000. Dimensional Fund Advisors LP increased its position in Third Coast Bancshares by 18.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 190,819 shares of the company’s stock valued at $4,058,000 after acquiring an additional 29,516 shares in the last quarter. Finally, BlackBarn Capital Partners LP raised its stake in shares of Third Coast Bancshares by 14.7% in the second quarter. BlackBarn Capital Partners LP now owns 150,000 shares of the company’s stock worth $3,190,000 after acquiring an additional 19,219 shares during the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

Third Coast Bancshares Stock Performance

Shares of NASDAQ:TCBX opened at $36.12 on Friday. The company has a 50 day moving average price of $29.91 and a two-hundred day moving average price of $24.87. The company has a market capitalization of $494.12 million, a PE ratio of 14.16 and a beta of 0.27. Third Coast Bancshares, Inc. has a 52 week low of $16.52 and a 52 week high of $36.20.

Third Coast Bancshares (NASDAQ:TCBX) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.21. The business had revenue of $85.24 million for the quarter, compared to analyst estimates 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 last year, the business posted $0.32 earnings per share. On average, sell-side analysts forecast that Third Coast Bancshares, Inc. will post 2.68 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on TCBX. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Third Coast Bancshares from $22.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $28.00 target price (up previously from $26.00) on shares of Third Coast Bancshares in a research report on Monday, July 29th.

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.