Third Coast Bancshares (NASDAQ:TCBX) Announces Earnings Results

Third Coast Bancshares (NASDAQ:TCBX) announced its quarterly earnings results on Wednesday. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.21, Yahoo Finance reports. The firm had revenue of $85.24 million for the quarter, compared to analysts’ expectations of $41.09 million. Third Coast Bancshares had a net margin of 11.54% and a return on equity of 8.72%. During the same period in the previous year, the company posted $0.32 earnings per share.

Third Coast Bancshares Stock Up 4.6 %

Shares of TCBX traded up $1.34 during mid-day trading on Friday, reaching $30.61. 54,687 shares of the stock traded hands, compared to its average volume of 34,951. The firm has a market cap of $418.44 million, a price-to-earnings ratio of 14.50 and a beta of 0.30. The stock has a fifty day simple moving average of $26.00 and a 200 day simple moving average of $22.72. Third Coast Bancshares has a 12-month low of $14.09 and a 12-month high of $30.97.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TCBX shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $28.00 price target (up from $26.00) on shares of Third Coast Bancshares in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Third Coast Bancshares from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, July 29th.

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.