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

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

Third Coast Bancshares Stock Up 1.8 %

Shares of TCBX opened at $25.08 on Friday. Third Coast Bancshares has a fifty-two week low of $14.09 and a fifty-two week high of $26.38. The firm has a market cap of $342.34 million, a PE ratio of 12.35 and a beta of 0.30. The company’s fifty day moving average is $21.13 and its two-hundred day moving average is $20.07.

Insiders Place Their Bets

In other Third Coast Bancshares news, insider William Bobbora bought 2,484 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average price of $21.44 per share, with a total value of $53,256.96. Following the transaction, the insider now owns 35,639 shares in the company, valued at $764,100.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.20% of the stock is currently owned by 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.