Third Coast Bancshares (NASDAQ:TCBX – Get Free Report) posted its earnings results on Wednesday. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.21, Yahoo Finance reports. The firm had revenue of $85.24 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.32 EPS.
Third Coast Bancshares Stock Performance
Third Coast Bancshares stock traded up $1.21 during trading on Friday, hitting $30.48. The company’s stock had a trading volume of 82,620 shares, compared to its average volume of 35,104. The stock’s fifty day moving average is $26.00 and its 200 day moving average is $22.72. Third Coast Bancshares has a 1-year low of $14.09 and a 1-year high of $30.97. The stock has a market capitalization of $416.66 million, a price-to-earnings ratio of 14.37 and a beta of 0.30.
Analyst Upgrades and Downgrades
TCBX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target 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 restated an “outperform” rating and issued a $28.00 target price (up from $26.00) on shares of Third Coast Bancshares in a 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.
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