Third Coast Bancshares (NASDAQ:TCBX) Announces Earnings Results, Beats Expectations By $0.08 EPS

Third Coast Bancshares (NASDAQ:TCBX) released its earnings results on Wednesday. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08, Zacks reports. The company had revenue of $84.11 million for the quarter, compared to the consensus estimate of $41.00 million. Third Coast Bancshares had a net margin of 11.54% and a return on equity of 8.84%. During the same quarter in the previous year, the firm earned $0.53 EPS.

Third Coast Bancshares Stock Down 1.5 %

Shares of TCBX traded down $0.37 during trading hours on Friday, reaching $24.71. 22,867 shares of the company traded hands, compared to its average volume of 47,620. The business has a fifty day moving average price of $21.27 and a 200-day moving average price of $20.14. Third Coast Bancshares has a 12-month low of $14.09 and a 12-month high of $26.38. The stock has a market capitalization of $337.29 million, a P/E ratio of 12.17 and a beta of 0.30.

Insider Buying and Selling

In other news, insider William Bobbora acquired 1,500 shares of Third Coast Bancshares stock in a transaction dated Thursday, May 16th. The stock was purchased at an average cost of $21.32 per share, for a total transaction of $31,980.00. Following the completion of the purchase, the insider now directly owns 2,600 shares in the company, valued at approximately $55,432. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.20% of the stock is currently owned by company insiders.

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.