Third Coast Bancshares (NASDAQ:TCBX) Announces Earnings Results

Third Coast Bancshares (NASDAQ:TCBX) released its quarterly earnings results on Wednesday. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.11, Zacks reports. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%.

Third Coast Bancshares Stock Performance

Shares of Third Coast Bancshares stock opened at $35.08 on Friday. The firm has a market cap of $479.89 million, a P/E ratio of 12.66 and a beta of 0.31. The firm’s 50-day simple moving average is $34.44 and its 200-day simple moving average is $29.05. Third Coast Bancshares has a twelve month low of $18.00 and a twelve month high of $37.65.

Insider Buying and Selling

In related news, insider William Bobbora bought 1,450 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was acquired at an average cost of $35.33 per share, with a total value of $51,228.50. Following the acquisition, the insider now owns 6,050 shares in the company, valued at approximately $213,746.50. This represents a 31.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of Third Coast Bancshares in a research note on Thursday.

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.