Deroy & Devereaux Private Investment Counsel Inc. Makes New Investment in Third Coast Bancshares, Inc. $TCBX

Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in Third Coast Bancshares, Inc. (NASDAQ:TCBX) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 91,170 shares of the company’s stock, valued at approximately $3,462,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TCBX. Quantbot Technologies LP bought a new position in Third Coast Bancshares during the 2nd quarter valued at approximately $29,000. Ameritas Advisory Services LLC purchased a new position in shares of Third Coast Bancshares during the second quarter valued at approximately $33,000. Ameritas Investment Partners Inc. lifted its stake in Third Coast Bancshares by 37.2% in the second quarter. Ameritas Investment Partners Inc. now owns 1,314 shares of the company’s stock worth $43,000 after acquiring an additional 356 shares during the period. CWM LLC lifted its stake in Third Coast Bancshares by 25.4% in the third quarter. CWM LLC now owns 2,456 shares of the company’s stock worth $93,000 after acquiring an additional 498 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Third Coast Bancshares in the second quarter valued at $201,000. 36.88% of the stock is owned by institutional investors.

Third Coast Bancshares Price Performance

NASDAQ:TCBX opened at $38.68 on Friday. The firm has a market capitalization of $537.35 million, a P/E ratio of 11.83 and a beta of 0.37. Third Coast Bancshares, Inc. has a one year low of $25.17 and a one year high of $41.70. The company’s 50-day simple moving average is $38.48 and its 200 day simple moving average is $38.06.

Third Coast Bancshares (NASDAQ:TCBX) last announced its earnings results on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter. Third Coast Bancshares had a net margin of 16.30% and a return on equity of 12.05%. The business had revenue of $54.48 million during the quarter. On average, equities research analysts expect that Third Coast Bancshares, Inc. will post 3.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

TCBX has been the subject of several research analyst reports. Stephens raised their target price on shares of Third Coast Bancshares from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Weiss Ratings restated a “buy (b)” rating on shares of Third Coast Bancshares in a report on Saturday, September 27th. Zacks Research cut Third Coast Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Finally, Keefe, Bruyette & Woods increased their target price on Third Coast Bancshares from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Third Coast Bancshares has a consensus rating of “Hold” and an average price target of $42.67.

Insiders Place Their Bets

In other Third Coast Bancshares news, Director W. Donald Brunson sold 1,500 shares of Third Coast Bancshares stock in a transaction on Monday, December 1st. The stock was sold at an average price of $38.55, for a total transaction of $57,825.00. Following the completion of the transaction, the director owned 37,268 shares in the company, valued at approximately $1,436,681.40. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.28% of the stock is currently owned by company insiders.

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. It also offers commercial and industrial loans, equipment loans, working capital lines of credit, guaranteed loans, auto finance, letters of credit, commercial and residential real estate, and construction, development, and other loans.