Short Interest in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Grows By 22.4%

Third Coast Bancshares, Inc. (NASDAQ:TCBX) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 168,700 shares, a growth of 22.4% from the November 15th total of 137,800 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 70,700 shares, the short-interest ratio is currently 2.4 days.

Third Coast Bancshares Price Performance

Shares of TCBX stock traded down $0.27 during trading hours on Friday, hitting $36.48. The stock had a trading volume of 77,761 shares, compared to its average volume of 44,932. The firm has a market capitalization of $499.01 million, a PE ratio of 14.31 and a beta of 0.27. Third Coast Bancshares has a twelve month low of $18.00 and a twelve month high of $37.65. The stock’s 50 day moving average is $32.71 and its 200 day moving average is $26.37.

Third Coast Bancshares (NASDAQ:TCBX) last announced its earnings results on Wednesday, October 23rd. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $85.24 million for the quarter, compared to analysts’ expectations of $41.09 million. During the same period in the previous year, the company posted $0.32 EPS. As a group, equities analysts predict that Third Coast Bancshares will post 2.68 earnings per share for the current year.

Insider Activity at Third Coast Bancshares

In other news, insider William Bobbora purchased 1,450 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average price of $35.33 per share, for a total transaction of $51,228.50. Following the purchase, the insider now directly owns 6,050 shares of the company’s stock, valued at $213,746.50. This represents a 31.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Third Coast Bancshares

Several hedge funds have recently made changes to their positions in TCBX. Federated Hermes Inc. increased its position in Third Coast Bancshares by 196.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock valued at $35,000 after acquiring an additional 1,093 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Third Coast Bancshares by 150.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock valued at $109,000 after purchasing an additional 2,454 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Third Coast Bancshares in the third quarter valued at approximately $115,000. AQR Capital Management LLC purchased a new stake in shares of Third Coast Bancshares during the second quarter worth approximately $255,000. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Third Coast Bancshares during the third quarter worth $321,000. Institutional investors and hedge funds own 36.88% of the company’s stock.

Third Coast Bancshares Company 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.