Beaumont Asset Management L.L.C. Has $324,000 Stock Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Beaumont Asset Management L.L.C. reduced its position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 4.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,294 shares of the company’s stock after selling 750 shares during the quarter. Beaumont Asset Management L.L.C.’s holdings in Third Coast Bancshares were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. New York State Common Retirement Fund lifted its position in shares of Third Coast Bancshares by 56.5% during the 4th quarter. New York State Common Retirement Fund now owns 5,013 shares of the company’s stock valued at $100,000 after acquiring an additional 1,810 shares during the period. Salzhauer Michael lifted its holdings in Third Coast Bancshares by 25.9% during the third quarter. Salzhauer Michael now owns 21,912 shares of the company’s stock valued at $375,000 after purchasing an additional 4,501 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Third Coast Bancshares in the fourth quarter worth about $134,000. Doliver Advisors LP bought a new position in shares of Third Coast Bancshares in the fourth quarter worth approximately $308,000. Finally, Bailard Inc. bought a new position in shares of Third Coast Bancshares in the third quarter worth approximately $298,000. 36.88% of the stock is owned by institutional investors.

Third Coast Bancshares Stock Performance

TCBX stock traded down $0.07 during midday trading on Tuesday, reaching $19.66. 34,363 shares of the company traded hands, compared to its average volume of 30,757. Third Coast Bancshares, Inc. has a 52-week low of $12.31 and a 52-week high of $21.50. The business has a 50 day moving average of $19.30 and a 200-day moving average of $18.49. The firm has a market capitalization of $267.57 million, a price-to-earnings ratio of 9.95 and a beta of 0.65.

Third Coast Bancshares (NASDAQ:TCBX) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Third Coast Bancshares had a return on equity of 8.38% and a net margin of 12.16%. The business had revenue of $39.49 million for the quarter, compared to the consensus estimate of $37.74 million. Research analysts anticipate that Third Coast Bancshares, Inc. will post 2.06 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on TCBX shares. Raymond James upped their price target on shares of Third Coast Bancshares from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods initiated coverage on Third Coast Bancshares in a research note on Thursday, January 11th. They issued an “outperform” rating and a $26.00 price target for the company.

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.