Geode Capital Management LLC Boosts Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Geode Capital Management LLC grew its holdings in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 274,962 shares of the company’s stock after purchasing an additional 3,373 shares during the period. Geode Capital Management LLC’s holdings in Third Coast Bancshares were worth $7,363,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in shares of 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 acquiring an additional 1,093 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Third Coast Bancshares by 150.8% in the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock valued at $109,000 after purchasing an additional 2,454 shares during the period. SG Americas Securities LLC acquired a new position in shares of Third Coast Bancshares during the third quarter worth about $115,000. AQR Capital Management LLC purchased a new stake in shares of Third Coast Bancshares in the second quarter worth about $255,000. Finally, Seizert Capital Partners LLC purchased a new stake in shares of Third Coast Bancshares in the third quarter worth about $321,000. Institutional investors and hedge funds own 36.88% of the company’s stock.

Third Coast Bancshares Stock Performance

Shares of NASDAQ:TCBX opened at $32.84 on Friday. The business’s 50-day simple moving average is $34.69 and its 200 day simple moving average is $27.75. The company has a market cap of $449.22 million, a P/E ratio of 12.88 and a beta of 0.27. Third Coast Bancshares, Inc. has a one year low of $18.00 and a one year high of $37.65.

Third Coast Bancshares (NASDAQ:TCBX) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $41.09 million. During the same quarter last year, the firm posted $0.32 earnings per share. Analysts predict that Third Coast Bancshares, Inc. will post 2.68 earnings per share for the current year.

Insider Buying and Selling

In other Third Coast Bancshares news, insider William Bobbora acquired 1,450 shares of the stock in a transaction on Thursday, December 5th. The stock was purchased at an average price of $35.33 per share, for a total transaction of $51,228.50. Following the purchase, the insider now directly owns 6,050 shares in the company, valued at $213,746.50. This trade represents a 31.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.20% of the stock is currently owned by insiders.

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.