State Street Corp Boosts Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

State Street Corp grew its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 6.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 218,514 shares of the company’s stock after buying an additional 13,948 shares during the period. State Street Corp’s holdings in Third Coast Bancshares were worth $5,850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TCBX. Federated Hermes Inc. boosted its position in shares of Third Coast Bancshares by 196.6% during the second quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock valued at $35,000 after buying an additional 1,093 shares during the last quarter. SG Americas Securities LLC bought a new position in Third Coast Bancshares in the third quarter valued at about $115,000. AQR Capital Management LLC purchased a new position in shares of Third Coast Bancshares in the second quarter worth approximately $255,000. Seizert Capital Partners LLC purchased a new stake in shares of Third Coast Bancshares in the 3rd quarter worth $321,000. Finally, Empowered Funds LLC raised its stake in shares of Third Coast Bancshares by 5.0% in the third quarter. Empowered Funds LLC now owns 28,253 shares of the company’s stock worth $756,000 after buying an additional 1,340 shares during the period. Institutional investors own 36.88% of the company’s stock.

Insider Buying and Selling

In other news, insider William Bobbora acquired 1,450 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were acquired at an average price of $35.33 per share, for a total transaction of $51,228.50. Following the completion of the transaction, the insider now directly owns 6,050 shares of the company’s stock, valued at approximately $213,746.50. The trade was a 31.52 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.20% of the stock is currently owned by company insiders.

Third Coast Bancshares Price Performance

Shares of NASDAQ TCBX opened at $34.13 on Friday. The firm has a fifty day moving average price of $34.23 and a 200-day moving average price of $27.36. Third Coast Bancshares, Inc. has a 1 year low of $18.00 and a 1 year high of $37.65. The stock has a market cap of $466.86 million, a PE ratio of 13.38 and a beta of 0.27.

Third Coast Bancshares (NASDAQ:TCBX) last posted its 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. Third Coast Bancshares had a net margin of 13.23% and a return on equity of 10.14%. The company had revenue of $85.24 million during the quarter, compared to analysts’ expectations of $41.09 million. During the same period last year, the company posted $0.32 earnings per share. On average, research analysts expect that Third Coast Bancshares, Inc. will post 2.68 EPS for the current year.

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.