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

Third Coast Bancshares (NASDAQ:TCBX) posted its earnings results on Wednesday. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08, Zacks reports. Third Coast Bancshares had a net margin of 11.64% and a return on equity of 8.46%. The firm had revenue of $84.11 million during the quarter, compared to analysts’ expectations of $41.00 million. During the same quarter in the prior year, the firm earned $0.53 EPS.

Third Coast Bancshares Stock Up 1.8 %

NASDAQ TCBX traded up $0.44 on Thursday, hitting $25.08. The stock had a trading volume of 57,942 shares, compared to its average volume of 31,479. Third Coast Bancshares has a one year low of $14.09 and a one year high of $26.38. The stock has a market cap of $342.34 million, a price-to-earnings ratio of 12.91 and a beta of 0.30. The company’s 50-day moving average is $21.13 and its two-hundred day moving average is $20.07.

Insiders Place Their Bets

In other news, insider William Bobbora bought 2,484 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was purchased at an average price of $21.44 per share, for a total transaction of $53,256.96. Following the transaction, the insider now owns 35,639 shares in the company, valued at $764,100.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.20% of the stock is owned by insiders.

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.