Wellington Management Group LLP Acquires New Stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Wellington Management Group LLP bought a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 53,896 shares of the company’s stock, valued at approximately $1,443,000. Wellington Management Group LLP owned approximately 0.39% of Third Coast Bancshares as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wasatch Advisors LP bought a new position in shares of Third Coast Bancshares in the third quarter worth approximately $6,811,000. State Street Corp increased its holdings in shares of Third Coast Bancshares by 6.8% in the 3rd quarter. State Street Corp now owns 218,514 shares of the company’s stock worth $5,850,000 after buying an additional 13,948 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Third Coast Bancshares by 18.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 190,819 shares of the company’s stock worth $4,058,000 after buying an additional 29,516 shares during the last quarter. BlackBarn Capital Partners LP raised its position in shares of Third Coast Bancshares by 14.7% during the 2nd quarter. BlackBarn Capital Partners LP now owns 150,000 shares of the company’s stock valued at $3,190,000 after buying an additional 19,219 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Third Coast Bancshares by 1.8% during the 3rd quarter. Blue Trust Inc. now owns 147,082 shares of the company’s stock worth $3,937,000 after acquiring an additional 2,632 shares during the last quarter. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Insider Buying and Selling at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora purchased 1,450 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost 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 in the company, valued at approximately $213,746.50. This represents a 31.52 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 10.20% of the company’s stock.

Third Coast Bancshares Stock Down 5.9 %

TCBX opened at $34.01 on Thursday. The business’s fifty day simple moving average is $33.15 and its 200 day simple moving average is $26.67. Third Coast Bancshares, Inc. has a 52 week low of $18.00 and a 52 week high of $37.65. The stock has a market cap of $465.22 million, a PE ratio of 13.34 and a beta of 0.27.

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

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.