Short Interest in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Increases By 20.9%

Third Coast Bancshares, Inc. (NASDAQ:TCBX) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 204,000 shares, a growth of 20.9% from the November 30th total of 168,700 shares. Based on an average trading volume of 76,800 shares, the short-interest ratio is presently 2.7 days. Approximately 1.9% of the company’s stock are sold short.

Insider Transactions at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora bought 1,450 shares of the company’s stock in a transaction dated 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 acquisition, the insider now owns 6,050 shares in the company, valued at approximately $213,746.50. This represents a 31.52 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Third Coast Bancshares

Several hedge funds have recently added to or reduced their stakes in TCBX. JPMorgan Chase & Co. raised its position in shares of Third Coast Bancshares by 131.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,350 shares of the company’s stock worth $625,000 after purchasing an additional 13,270 shares during the last quarter. Barclays PLC raised its holdings in Third Coast Bancshares by 254.6% in the third quarter. Barclays PLC now owns 15,929 shares of the company’s stock worth $426,000 after buying an additional 11,437 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 worth $7,363,000 after buying an additional 3,373 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings 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 valued at $109,000 after buying an additional 2,454 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Third Coast Bancshares during the third quarter valued at approximately $1,443,000. 36.88% of the stock is owned by institutional investors.

Third Coast Bancshares Price Performance

Shares of NASDAQ TCBX opened at $34.38 on Tuesday. The stock has a market cap of $470.28 million, a P/E ratio of 13.48 and a beta of 0.27. Third Coast Bancshares has a 1 year low of $18.00 and a 1 year high of $37.65. The firm has a 50-day moving average of $34.37 and a 200 day moving average of $27.56.

Third Coast Bancshares (NASDAQ:TCBX) last released its earnings results on Wednesday, October 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.21. The firm had revenue of $85.24 million during the quarter, compared to analyst estimates of $41.09 million. Third Coast Bancshares had a net margin of 13.23% and a return on equity of 10.14%. During the same period last year, the business earned $0.32 earnings per share. Research analysts expect that Third Coast Bancshares will post 2.68 earnings per share for the current fiscal year.

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.