Beaumont Asset Management L.L.C. lessened its holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX – Get Rating) by 47.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,294 shares of the company's stock after selling 20,850 shares during the period. Beaumont Asset Management L.L.C.'s holdings in Third Coast Bancshares were worth $398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Avalon Investment & Advisory purchased a new position in Third Coast Bancshares in the third quarter valued at approximately $906,000. Inscription Capital LLC purchased a new position in Third Coast Bancshares in the second quarter valued at approximately $1,450,000. RMB Capital Management LLC purchased a new position in Third Coast Bancshares in the second quarter valued at approximately $7,835,000. Occudo Quantitative Strategies LP purchased a new position in Third Coast Bancshares in the second quarter valued at approximately $323,000. Finally, State Street Corp lifted its stake in Third Coast Bancshares by 144.1% in the second quarter. State Street Corp now owns 124,934 shares of the company's stock valued at $2,736,000 after purchasing an additional 73,759 shares during the last quarter. Hedge funds and other institutional investors own 50.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Raymond James downgraded Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 6th. Piper Sandler dropped their target price on Third Coast Bancshares from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, October 13th.

Third Coast Bancshares Price Performance

Third Coast Bancshares (NASDAQ:TCBX – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.15. The firm had revenue of $33.89 million for the quarter, compared to analysts' expectations of $31.40 million. Third Coast Bancshares had a net margin of 8.39% and a return on equity of 3.59%. Sell-side analysts forecast that Third Coast Bancshares, Inc. will post 1.25 EPS for the current fiscal year.

Third Coast Bancshares Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Saturday, December 31st will be issued a $17.25 dividend. The ex-dividend date is Thursday, December 29th.

About Third Coast Bancshares

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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.

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