Beaumont Asset Management L.L.C. Reduces Stock Position in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

Beaumont Asset Management L.L.C. lessened its stake in Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,294 shares of the company’s stock after selling 750 shares during the period. Beaumont Asset Management L.L.C. owned 0.12% of Third Coast Bancshares worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. New York State Common Retirement Fund increased its stake in shares of Third Coast Bancshares by 56.5% during the 4th quarter. New York State Common Retirement Fund now owns 5,013 shares of the company’s stock worth $100,000 after purchasing an additional 1,810 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Third Coast Bancshares during the fourth quarter worth approximately $134,000. Bailard Inc. acquired a new stake in Third Coast Bancshares during the third quarter worth approximately $298,000. Doliver Advisors LP acquired a new position in shares of Third Coast Bancshares in the 4th quarter valued at $308,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Third Coast Bancshares in the 3rd quarter valued at $357,000. Institutional investors and hedge funds own 36.88% of the company’s stock.

Third Coast Bancshares Price Performance

NASDAQ:TCBX traded down $0.07 during mid-day trading on Tuesday, reaching $19.66. The stock had a trading volume of 34,363 shares, compared to its average volume of 30,757. The company has a market capitalization of $267.57 million, a price-to-earnings ratio of 9.95 and a beta of 0.65. Third Coast Bancshares, Inc. has a 1-year low of $12.31 and a 1-year high of $21.50. The stock’s 50 day simple moving average is $19.30 and its two-hundred day simple moving average is $18.49.

Third Coast Bancshares (NASDAQ:TCBX) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $39.49 million during the quarter, compared to the consensus estimate of $37.74 million. Third Coast Bancshares had a return on equity of 8.38% and a net margin of 12.16%. Sell-side analysts anticipate that Third Coast Bancshares, Inc. will post 2.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TCBX shares. Keefe, Bruyette & Woods started coverage on shares of Third Coast Bancshares in a report on Thursday, January 11th. They set an “outperform” rating and a $26.00 target price on the stock. Raymond James lifted their target price on shares of Third Coast Bancshares from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, January 29th.

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.