Kennedy Capital Management LLC Purchases 54,713 Shares of Third Coast Bancshares, Inc. $TCBX

Kennedy Capital Management LLC raised its position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 458,047 shares of the company’s stock after buying an additional 54,713 shares during the period. Kennedy Capital Management LLC’s holdings in Third Coast Bancshares were worth $17,392,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its stake in shares of Third Coast Bancshares by 28.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 511,940 shares of the company’s stock valued at $16,725,000 after acquiring an additional 112,605 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in Third Coast Bancshares during the 3rd quarter valued at about $3,462,000. Millennium Management LLC raised its position in Third Coast Bancshares by 88.2% during the 1st quarter. Millennium Management LLC now owns 177,521 shares of the company’s stock valued at $5,924,000 after purchasing an additional 83,209 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Third Coast Bancshares by 435.4% in the 2nd quarter. Franklin Resources Inc. now owns 100,408 shares of the company’s stock worth $3,280,000 after buying an additional 81,655 shares during the period. Finally, Focus Partners Wealth lifted its holdings in Third Coast Bancshares by 32,994.4% in the 1st quarter. Focus Partners Wealth now owns 41,699 shares of the company’s stock worth $1,391,000 after buying an additional 41,573 shares during the period. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Insiders Place Their Bets

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

Third Coast Bancshares Stock Performance

Shares of TCBX traded down $0.32 on Friday, hitting $37.36. 5,994 shares of the stock traded hands, compared to its average volume of 71,276. Third Coast Bancshares, Inc. has a one year low of $25.17 and a one year high of $43.84. The company has a market capitalization of $615.92 million, a PE ratio of 11.43 and a beta of 0.38. The business has a 50 day simple moving average of $40.11 and a 200 day simple moving average of $39.17.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research raised Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods lifted their price target on shares of 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 issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.50.

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. 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.