Third Coast Bancshares (NASDAQ:TCBX) Reaches New 12-Month High – Still a Buy?

Third Coast Bancshares, Inc. (NASDAQ:TCBX) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $36.74 and last traded at $36.61, with a volume of 6646 shares. The stock had previously closed at $36.12.

Third Coast Bancshares Price Performance

The stock’s fifty day moving average price is $30.10 and its 200-day moving average price is $25.02. The firm has a market cap of $492.48 million, a PE ratio of 14.12 and a beta of 0.27.

Third Coast Bancshares (NASDAQ:TCBX) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, beating 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 business earned $0.32 earnings per share. On average, sell-side analysts anticipate that Third Coast Bancshares, Inc. will post 2.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Third Coast Bancshares by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 635,569 shares of the company’s stock valued at $12,724,000 after buying an additional 4,680 shares during the period. BlackBarn Capital Partners LP grew 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 valued at $3,190,000 after buying an additional 19,219 shares in the last quarter. Inspire Investing LLC acquired a new position in Third Coast Bancshares during the 3rd quarter worth about $823,000. Acadian Asset Management LLC increased its stake in Third Coast Bancshares by 1,244.2% during the second quarter. Acadian Asset Management LLC now owns 36,790 shares of the company’s stock worth $782,000 after purchasing an additional 34,053 shares during the period. Finally, Dimensional Fund Advisors LP grew 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 purchasing an additional 29,516 shares in the last quarter. 36.88% of the stock is currently owned by institutional investors and hedge funds.

About Third Coast Bancshares

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.