Third Coast Bancshares, Inc. (NASDAQ:TCBX) Short Interest Update

Third Coast Bancshares, Inc. (NASDAQ:TCBX) was the target 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 trading volume of 67,600 shares, the short-interest ratio is presently 2.0 days. Approximately 1.3% of the shares of the stock are sold short.

Third Coast Bancshares Stock Performance

Third Coast Bancshares stock traded up $0.09 during midday trading on Friday, reaching $35.50. 70,266 shares of the company were exchanged, compared to its average volume of 43,453. The firm’s 50-day simple moving average is $30.75 and its 200-day simple moving average is $25.37. Third Coast Bancshares has a 1 year low of $16.73 and a 1 year high of $37.15. 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 issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.74 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 the consensus estimate of $41.09 million. Third Coast Bancshares had a net margin of 13.23% and a return on equity of 10.14%. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, analysts forecast that Third Coast Bancshares will post 2.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TCBX. Federated Hermes Inc. increased its stake in Third Coast Bancshares by 196.6% in the second quarter. Federated Hermes Inc. now owns 1,649 shares of the company’s stock valued at $35,000 after purchasing an additional 1,093 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Third Coast Bancshares by 121.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,822 shares of the company’s stock worth $36,000 after acquiring an additional 1,000 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Third Coast Bancshares by 150.8% in the third quarter. Public Employees Retirement System of Ohio now owns 4,081 shares of the company’s stock worth $109,000 after acquiring an additional 2,454 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Third Coast Bancshares in the third quarter valued at approximately $115,000. Finally, AQR Capital Management LLC acquired a new position in Third Coast Bancshares during the second quarter worth approximately $255,000. Hedge funds and other institutional investors own 36.88% of the company’s stock.

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.