Third Coast Bancshares (NASDAQ:TCBX) Releases Earnings Results, Beats Expectations By $0.21 EPS

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

Third Coast Bancshares Trading Up 3.5 %

Shares of TCBX stock traded up $1.03 during trading hours on Friday, hitting $30.30. 74,796 shares of the company were exchanged, compared to its average volume of 35,066. The business has a 50 day moving average of $26.00 and a two-hundred day moving average of $22.72. Third Coast Bancshares has a 52 week low of $14.09 and a 52 week high of $30.97. The company has a market capitalization of $414.20 million, a PE ratio of 14.37 and a beta of 0.30.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TCBX shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $28.00 target price (up previously from $26.00) on shares of Third Coast Bancshares in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price 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.