Third Coast Bancshares, Inc. (NASDAQ:TCBX) Stake Increased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 100.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,199 shares of the company’s stock after buying an additional 17,114 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Third Coast Bancshares were worth $916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Third Coast Bancshares by 0.7% in the first quarter. Vanguard Group Inc. now owns 635,569 shares of the company’s stock worth $12,724,000 after buying an additional 4,680 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Third Coast Bancshares by 18.3% in the second quarter. Dimensional Fund Advisors LP now owns 190,819 shares of the company’s stock worth $4,058,000 after buying an additional 29,516 shares during the last quarter. BlackBarn Capital Partners LP increased its stake in shares of Third Coast Bancshares by 14.7% in the second quarter. BlackBarn Capital Partners LP now owns 150,000 shares of the company’s stock worth $3,190,000 after buying an additional 19,219 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Third Coast Bancshares by 1.8% in the third quarter. Blue Trust Inc. now owns 147,082 shares of the company’s stock worth $3,937,000 after buying an additional 2,632 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Third Coast Bancshares by 11.9% in the second quarter. Renaissance Technologies LLC now owns 85,505 shares of the company’s stock worth $1,819,000 after buying an additional 9,105 shares during the last quarter. Institutional investors own 36.88% of the company’s stock.

Third Coast Bancshares Price Performance

TCBX stock opened at $35.41 on Thursday. Third Coast Bancshares, Inc. has a 1-year low of $16.52 and a 1-year high of $37.15. The firm has a fifty day moving average price of $30.28 and a two-hundred day moving average price of $25.12. The firm has a market cap of $484.41 million, a price-to-earnings ratio of 13.88 and a beta of 0.27.

Third Coast Bancshares (NASDAQ:TCBX) last released its earnings results on Wednesday, October 23rd. The company reported $0.74 earnings per share 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 firm had revenue of $85.24 million during the quarter, compared to analyst estimates of $41.09 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, analysts expect that Third Coast Bancshares, Inc. will post 2.68 EPS for the current fiscal year.

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.