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

Kennedy Capital Management LLC grew its position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 13.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 458,047 shares of the company’s stock after buying an additional 54,713 shares during the quarter. Kennedy Capital Management LLC owned 3.30% of Third Coast Bancshares worth $17,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Third Coast Bancshares during the 3rd quarter valued at $3,462,000. Franklin Resources Inc. raised its position in Third Coast Bancshares by 435.4% during the second quarter. Franklin Resources Inc. now owns 100,408 shares of the company’s stock valued at $3,280,000 after purchasing an additional 81,655 shares in the last quarter. Geode Capital Management LLC lifted its stake in Third Coast Bancshares by 11.1% during the second quarter. Geode Capital Management LLC now owns 313,962 shares of the company’s stock worth $10,259,000 after purchasing an additional 31,262 shares during the last quarter. American Century Companies Inc. lifted its stake in Third Coast Bancshares by 17.5% during the second quarter. American Century Companies Inc. now owns 230,942 shares of the company’s stock worth $7,545,000 after purchasing an additional 34,427 shares during the last quarter. Finally, AlphaCore Capital LLC purchased a new position in shares of Third Coast Bancshares in the 2nd quarter worth about $1,358,000. Hedge funds and other institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Trading Down 0.8%

Shares of NASDAQ:TCBX traded down $0.32 on Friday, reaching $37.36. 5,994 shares of the company traded hands, compared to its average volume of 71,276. The stock has a market capitalization of $615.92 million, a P/E ratio of 11.43 and a beta of 0.38. The business’s 50-day simple moving average is $40.11 and its 200 day simple moving average is $39.17. Third Coast Bancshares, Inc. has a 52 week low of $25.17 and a 52 week high of $43.84.

Insider Buying and Selling

In related news, insider William Bobbora purchased 1,200 shares of the firm’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 purchase, the insider directly 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 10.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Third Coast Bancshares from $43.00 to $45.00 and gave the company a “market perform” rating in a research report on Monday, January 26th. Zacks Research upgraded shares of Third Coast Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.50.

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. 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.