Inspire Investing LLC bought a new position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 30,758 shares of the company’s stock, valued at approximately $823,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kennedy Capital Management LLC lifted its holdings in 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 acquiring an additional 111,915 shares during the period. Vanguard Group Inc. increased its position in shares of Third Coast Bancshares by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 635,569 shares of the company’s stock valued at $12,724,000 after purchasing an additional 4,680 shares during the last quarter. BlackBarn Capital Partners LP raised its stake 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 worth $3,190,000 after purchasing an additional 19,219 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Third Coast Bancshares in the 4th quarter worth about $409,000. Finally, Empowered Funds LLC grew its position in Third Coast Bancshares by 7.5% during the first quarter. Empowered Funds LLC now owns 25,113 shares of the company’s stock valued at $503,000 after buying an additional 1,750 shares during the period. Hedge funds and other institutional investors own 36.88% of the company’s stock.
Third Coast Bancshares Trading Up 1.7 %
Shares of TCBX stock opened at $27.45 on Tuesday. The firm’s 50 day moving average is $24.97 and its 200 day moving average is $22.27. The stock has a market capitalization of $375.24 million, a P/E ratio of 12.89 and a beta of 0.30. Third Coast Bancshares, Inc. has a 12 month low of $14.09 and a 12 month high of $28.25.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on TCBX shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $28.00 price target (up previously from $26.00) on shares of Third Coast Bancshares in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on Third Coast Bancshares from $22.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, July 29th.
Read Our Latest Stock Report on TCBX
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.
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