M3F Inc. increased its position in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX – Get Rating) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,065 shares of the company’s stock after purchasing an additional 30,986 shares during the period. Third Coast Bancshares accounts for about 1.5% of M3F Inc.’s investment portfolio, making the stock its 26th largest holding. M3F Inc. owned 1.81% of Third Coast Bancshares worth $4,193,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of Third Coast Bancshares by 21.8% in the third quarter. Bank of New York Mellon Corp now owns 38,713 shares of the company’s stock valued at $663,000 after buying an additional 6,939 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Third Coast Bancshares by 16.0% during the third quarter. BlackRock Inc. now owns 736,913 shares of the company’s stock worth $12,608,000 after purchasing an additional 101,531 shares during the period. Royal Bank of Canada increased its stake in shares of Third Coast Bancshares by 80.0% in the third quarter. Royal Bank of Canada now owns 3,995 shares of the company’s stock worth $68,000 after acquiring an additional 1,776 shares during the last quarter. Renaissance Technologies LLC raised its position in Third Coast Bancshares by 5.6% during the third quarter. Renaissance Technologies LLC now owns 34,100 shares of the company’s stock valued at $583,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Childress Capital Advisors LLC bought a new position in Third Coast Bancshares during the third quarter valued at approximately $171,000. Institutional investors own 50.00% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Stephens decreased their target price on Third Coast Bancshares from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 30th.
Third Coast Bancshares Price Performance
Shares of TCBX traded up $0.10 during mid-day trading on Friday, reaching $18.20. The company had a trading volume of 4,688 shares, compared to its average volume of 20,535. Third Coast Bancshares, Inc. has a twelve month low of $16.35 and a twelve month high of $26.75. The company’s 50-day moving average is $18.73 and its 200-day moving average is $18.65. The company has a market capitalization of $246.25 million, a P/E ratio of 14.60 and a beta of 0.38.
Third Coast Bancshares Announces Dividend
The business also recently announced an annual dividend, which was paid on Tuesday, January 17th. Stockholders of record on Saturday, December 31st were issued a $17.25 dividend. The ex-dividend date of this dividend was Thursday, December 29th.
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.