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

Third Coast Bancshares (NASDAQ:TCBX) issued its quarterly 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 analyst estimates 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 quarter in the previous year, the firm earned $0.32 earnings per share.

Third Coast Bancshares Stock Up 4.6 %

TCBX stock traded up $1.34 during trading on Friday, hitting $30.61. 54,687 shares of the company’s stock traded hands, compared to its average volume of 34,951. Third Coast Bancshares has a 52 week low of $14.09 and a 52 week high of $30.97. The stock has a fifty day moving average price of $26.00 and a two-hundred day moving average price of $22.72. The stock has a market capitalization of $418.44 million, a price-to-earnings ratio of 14.50 and a beta of 0.30.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TCBX. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $28.00 price target (up previously from $26.00) on shares of Third Coast Bancshares in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Third Coast Bancshares from $22.00 to $26.00 and gave the stock 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.