Third Coast Bancshares (NASDAQ:TCBX) Hits New 1-Year High – Here’s Why

Third Coast Bancshares, Inc. (NASDAQ:TCBX)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $36.74 and last traded at $36.61, with a volume of 6646 shares changing hands. The stock had previously closed at $36.12.

Third Coast Bancshares Trading Down 0.6 %

The firm has a market cap of $492.48 million, a PE ratio of 14.12 and a beta of 0.27. The company has a 50-day simple moving average of $30.10 and a 200 day simple moving average of $25.02.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.74 EPS for the quarter, beating the consensus estimate 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 business earned $0.32 earnings per share. On average, equities analysts expect that Third Coast Bancshares, Inc. will post 2.68 earnings per share for the current year.

Institutional Trading of Third Coast Bancshares

Several institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its position in shares of Third Coast Bancshares by 254.6% during the 3rd quarter. Barclays PLC now owns 15,929 shares of the company’s stock valued at $426,000 after buying an additional 11,437 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Third Coast Bancshares by 1.2% in the third quarter. Geode Capital Management LLC now owns 274,962 shares of the company’s stock valued at $7,363,000 after purchasing an additional 3,373 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Third Coast Bancshares by 150.8% during the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock worth $109,000 after purchasing an additional 2,454 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Third Coast Bancshares during the 3rd quarter worth about $1,443,000. Finally, State Street Corp lifted its stake in Third Coast Bancshares by 6.8% in the 3rd quarter. State Street Corp now owns 218,514 shares of the company’s stock valued at $5,850,000 after buying an additional 13,948 shares in the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

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.