Valeo Financial Advisors LLC grew its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX – Free Report) by 21.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,616 shares of the company’s stock after purchasing an additional 13,787 shares during the quarter. Valeo Financial Advisors LLC owned approximately 0.47% of Third Coast Bancshares worth $3,176,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Quantbot Technologies LP acquired a new position in Third Coast Bancshares in the second quarter valued at approximately $29,000. Advisory Services Network LLC acquired a new stake in Third Coast Bancshares during the 3rd quarter worth $31,000. State of Alaska Department of Revenue raised its position in shares of Third Coast Bancshares by 257.2% during the 4th quarter. State of Alaska Department of Revenue now owns 1,993 shares of the company’s stock valued at $75,000 after acquiring an additional 1,435 shares during the last quarter. Mariner LLC acquired a new position in shares of Third Coast Bancshares in the 4th quarter valued at $201,000. Finally, Waterway Wealth Management LLC acquired a new position in shares of Third Coast Bancshares in the 1st quarter valued at $208,000. Institutional investors and hedge funds own 36.88% of the company’s stock.
Third Coast Bancshares Stock Performance
TCBX opened at $44.24 on Monday. The firm’s fifty day moving average is $40.73 and its two-hundred day moving average is $39.86. The firm has a market cap of $733.96 million, a PE ratio of 13.53 and a beta of 0.32. Third Coast Bancshares, Inc. has a twelve month low of $35.60 and a twelve month high of $44.98.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Third Coast Bancshares from $45.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Stephens decreased their target price on Third Coast Bancshares from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Third Coast Bancshares presently has an average rating of “Moderate Buy” and an average price target of $46.00.
View Our Latest Stock Analysis on Third Coast Bancshares
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. 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.
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