Banc Funds Co. LLC Decreases Holdings in Third Coast Bancshares, Inc. $TCBX

Banc Funds Co. LLC trimmed its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 16.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 179,383 shares of the company’s stock after selling 36,000 shares during the quarter. Banc Funds Co. LLC owned 1.29% of Third Coast Bancshares worth $6,811,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Third Coast Bancshares during the 2nd quarter valued at $29,000. Ameritas Investment Partners Inc. lifted its stake in Third Coast Bancshares by 37.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,314 shares of the company’s stock worth $43,000 after purchasing an additional 356 shares during the last quarter. CWM LLC boosted its position in Third Coast Bancshares by 25.4% during the third quarter. CWM LLC now owns 2,456 shares of the company’s stock valued at $93,000 after buying an additional 498 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Third Coast Bancshares during the second quarter valued at about $201,000. Finally, Savant Capital LLC bought a new position in shares of Third Coast Bancshares during the third quarter valued at about $211,000. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TCBX. Zacks Research upgraded Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods increased their target price on Third Coast Bancshares from $43.00 to $45.00 and gave the company a “market perform” rating in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

Third Coast Bancshares Stock Down 0.8%

Shares of TCBX opened at $37.37 on Friday. The stock has a market capitalization of $616.15 million, a P/E ratio of 11.43 and a beta of 0.38. The firm has a fifty day simple moving average of $40.11 and a two-hundred day simple moving average of $39.14. Third Coast Bancshares, Inc. has a twelve month low of $25.17 and a twelve month high of $43.84.

Insider Activity at Third Coast Bancshares

In other news, insider William Bobbora bought 1,200 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was bought at an average cost of $39.62 per share, for a total transaction of $47,544.00. Following the completion of the acquisition, the insider owned 48,306 shares in the company, valued at approximately $1,913,883.72. This trade represents a 2.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 10.28% of the company’s stock.

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. It also offers commercial and industrial loans, equipment loans, working capital lines of credit, guaranteed loans, auto finance, letters of credit, commercial and residential real estate, and construction, development, and other loans.