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

Third Coast Bancshares (NASDAQ:TCBX) announced its quarterly 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. The firm had revenue of $85.24 million during 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 prior year, the company posted $0.32 EPS.

Third Coast Bancshares Stock Up 6.2 %

TCBX opened at $31.09 on Friday. Third Coast Bancshares has a twelve month low of $14.09 and a twelve month high of $31.23. The company has a fifty day moving average of $26.17 and a 200-day moving average of $22.81. The stock has a market cap of $425.00 million, a PE ratio of 14.60 and a beta of 0.30.

Wall Street Analysts Forecast Growth

TCBX has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $28.00 price objective (up from $26.00) on shares of Third Coast Bancshares in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on Third Coast Bancshares from $22.00 to $26.00 and gave the company a “hold” rating in a research report 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.