Short Interest in Third Coast Bancshares, Inc. (NASDAQ:TCBX) Expands By 42.1%

Third Coast Bancshares, Inc. (NASDAQ:TCBX) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 137,800 shares, a growth of 42.1% from the October 31st total of 97,000 shares. Based on an average daily trading volume, of 67,600 shares, the short-interest ratio is presently 2.0 days. Approximately 1.3% of the company’s stock are short sold.

Institutional Trading of Third Coast Bancshares

Several large investors have recently modified their holdings of TCBX. Vanguard Group Inc. boosted its holdings in Third Coast Bancshares by 0.7% in the first quarter. Vanguard Group Inc. now owns 635,569 shares of the company’s stock valued at $12,724,000 after purchasing an additional 4,680 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Third Coast Bancshares by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 274,962 shares of the company’s stock valued at $7,363,000 after buying an additional 3,373 shares during the last quarter. Wasatch Advisors LP purchased a new position in shares of Third Coast Bancshares during the 3rd quarter valued at approximately $6,811,000. State Street Corp grew its position in shares of Third Coast Bancshares by 6.8% during the third quarter. State Street Corp now owns 218,514 shares of the company’s stock worth $5,850,000 after buying an additional 13,948 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 worth $4,058,000 after buying an additional 29,516 shares during the last quarter. 36.88% of the stock is currently owned by institutional investors and hedge funds.

Third Coast Bancshares Stock Performance

Shares of TCBX stock traded up $0.09 during trading hours on Friday, reaching $35.50. The company had a trading volume of 70,266 shares, compared to its average volume of 43,453. The company has a market capitalization of $485.64 million, a P/E ratio of 13.92 and a beta of 0.27. Third Coast Bancshares has a twelve month low of $16.73 and a twelve month high of $37.15. The stock’s fifty day simple moving average is $30.75 and its 200 day simple moving average is $25.37.

Third Coast Bancshares (NASDAQ:TCBX) last announced its earnings results on Wednesday, October 23rd. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate 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 prior year, the firm earned $0.32 earnings per share. As a group, equities analysts expect that Third Coast Bancshares will post 2.68 earnings per share for the current year.

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.