Third Coast Bancshares (NASDAQ:TCBX) Issues Earnings Results

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

Third Coast Bancshares Price Performance

TCBX stock traded down $0.55 during mid-day trading on Friday, reaching $24.53. 5,138 shares of the company traded hands, compared to its average volume of 31,295. The company has a market capitalization of $334.83 million, a P/E ratio of 12.47 and a beta of 0.30. Third Coast Bancshares has a 52-week low of $14.09 and a 52-week high of $26.38. The company has a fifty day moving average price of $21.21 and a 200-day moving average price of $20.10.

Insider Buying and Selling at Third Coast Bancshares

In related news, insider William Bobbora bought 2,484 shares of Third Coast Bancshares stock in a transaction on Tuesday, May 21st. The stock was acquired at an average price of $21.44 per share, with a total value of $53,256.96. Following the acquisition, the insider now directly owns 35,639 shares of the company’s stock, valued at $764,100.16. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 10.20% of the company’s stock.

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.