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

Third Coast Bancshares, Inc. (NASDAQ:TCBX) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 204,000 shares, an increase of 20.9% from the November 30th total of 168,700 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily volume of 76,800 shares, the short-interest ratio is currently 2.7 days.

Third Coast Bancshares Stock Down 2.2 %

NASDAQ TCBX traded down $0.77 on Friday, hitting $34.13. The stock had a trading volume of 38,133 shares, compared to its average volume of 46,022. The company’s 50-day moving average is $34.23 and its two-hundred day moving average is $27.41. Third Coast Bancshares has a one year low of $18.00 and a one year high of $37.65. The stock has a market cap of $466.86 million, a price-to-earnings ratio of 13.38 and a beta of 0.27.

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

Insider Activity at Third Coast Bancshares

In other news, insider William Bobbora acquired 1,450 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were acquired at an average price of $35.33 per share, with a total value of $51,228.50. Following the acquisition, the insider now directly owns 6,050 shares in the company, valued at approximately $213,746.50. The trade was a 31.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP acquired a new stake in Third Coast Bancshares in the third quarter worth about $6,811,000. Wellington Management Group LLP acquired a new position in Third Coast Bancshares during the 3rd quarter valued at about $1,443,000. Acadian Asset Management LLC raised its position in shares of Third Coast Bancshares by 1,244.2% during 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 in the last quarter. Inspire Investing LLC acquired a new stake in shares of Third Coast Bancshares in the 3rd quarter worth approximately $823,000. Finally, Dimensional Fund Advisors LP boosted its holdings 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 valued at $4,058,000 after acquiring an additional 29,516 shares in the last quarter. 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.