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

Third Coast Bancshares Stock Up 6.2 %

Shares of NASDAQ:TCBX traded up $1.82 during midday trading on Friday, reaching $31.09. 110,263 shares of the company traded hands, compared to its average volume of 35,237. The firm’s fifty day moving average price is $26.17 and its two-hundred day moving average price is $22.81. The firm has a market capitalization of $425.00 million, a price-to-earnings ratio of 14.60 and a beta of 0.30. Third Coast Bancshares has a 12 month low of $14.09 and a 12 month high of $31.23.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TCBX. Deutsche Bank Aktiengesellschaft lifted their price objective on Third Coast Bancshares from $22.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated 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.

About Third Coast Bancshares

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.