Third Coast Bancshares (NASDAQ:TCBX) Issues Quarterly Earnings Results

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

Third Coast Bancshares Price Performance

TCBX traded up $1.21 during trading on Friday, reaching $30.48. 82,620 shares of the stock were exchanged, compared to its average volume of 35,104. Third Coast Bancshares has a 1 year low of $14.09 and a 1 year high of $30.97. The company has a market capitalization of $416.66 million, a price-to-earnings ratio of 14.37 and a beta of 0.30. The business’s 50 day moving average price is $26.00 and its two-hundred day moving average price is $22.72.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $28.00 price objective (up previously from $26.00) on shares of Third Coast Bancshares in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Third Coast Bancshares from $22.00 to $26.00 and gave the stock a “hold” rating in a report 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.