Third Coast Bancshares, Inc. (NASDAQ:TCBX) Sees Significant Increase in Short Interest

Third Coast Bancshares, Inc. (NASDAQ:TCBX) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 137,800 shares, an increase of 42.1% from the October 31st total of 97,000 shares. Based on an average daily trading volume, of 67,600 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.3% of the company’s stock are short sold.

Third Coast Bancshares Stock Up 0.3 %

Shares of Third Coast Bancshares stock traded up $0.09 on Friday, reaching $35.50. The company’s stock had a trading volume of 70,266 shares, compared to its average volume of 43,453. Third Coast Bancshares has a 52 week low of $16.73 and a 52 week high of $37.15. The firm’s fifty day simple moving average is $30.75 and its two-hundred day simple moving average is $25.37. The company has a market capitalization of $485.64 million, a price-to-earnings ratio of 13.92 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 company had revenue of $85.24 million during the quarter, compared to the consensus estimate of $41.09 million. During the same period last year, the company earned $0.32 EPS. As a group, research analysts predict that Third Coast Bancshares will post 2.68 EPS for the current year.

Institutional Trading of Third Coast Bancshares

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 4,680 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Third Coast Bancshares by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 274,962 shares of the company’s stock valued at $7,363,000 after buying an additional 3,373 shares during the period. Wasatch Advisors LP purchased a new position in shares of Third Coast Bancshares in the 3rd quarter worth $6,811,000. State Street Corp grew its holdings in shares of Third Coast Bancshares by 6.8% in the third quarter. State Street Corp now owns 218,514 shares of the company’s stock worth $5,850,000 after acquiring an additional 13,948 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in 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 acquiring an additional 29,516 shares during the last quarter. 36.88% of the stock is currently owned by institutional investors.

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.