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

Third Coast Bancshares, Inc. (NASDAQ:TCBX) was the target of a significant 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. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 76,800 shares, the short-interest ratio is currently 2.7 days.

Third Coast Bancshares Stock Up 0.7 %

Shares of NASDAQ:TCBX opened at $34.38 on Tuesday. The company’s fifty day moving average is $34.37 and its 200 day moving average is $27.56. Third Coast Bancshares has a 52 week low of $18.00 and a 52 week high of $37.65. The stock has a market cap of $470.28 million, a PE ratio of 13.48 and a beta of 0.27.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.53 by $0.21. Third Coast Bancshares had a return on equity of 10.14% and a net margin of 13.23%. The firm had revenue of $85.24 million for the quarter, compared to the consensus estimate of $41.09 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. Sell-side analysts anticipate that Third Coast Bancshares will post 2.68 EPS for the current year.

Insider Buying and Selling at Third Coast Bancshares

In other Third Coast Bancshares news, insider William Bobbora acquired 1,450 shares of the stock in a transaction dated Thursday, December 5th. The stock was purchased at an average cost 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 $213,746.50. The trade was a 31.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 10.20% of the company’s stock.

Institutional Trading of Third Coast Bancshares

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Third Coast Bancshares by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 39,984 shares of the company’s stock valued at $850,000 after acquiring an additional 1,038 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Third Coast Bancshares by 1,244.2% in the 2nd quarter. Acadian Asset Management LLC now owns 36,790 shares of the company’s stock worth $782,000 after buying an additional 34,053 shares during the period. American Century Companies Inc. grew its position in shares of Third Coast Bancshares by 17.0% in the 2nd quarter. American Century Companies Inc. now owns 39,227 shares of the company’s stock worth $834,000 after buying an additional 5,710 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Third Coast Bancshares by 196.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock worth $35,000 after buying an additional 1,093 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Third Coast Bancshares by 18.3% during the second quarter. Dimensional Fund Advisors LP now owns 190,819 shares of the company’s stock valued at $4,058,000 after buying an additional 29,516 shares during the period. Hedge funds and other institutional investors 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.