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

Third Coast Bancshares (NASDAQ:TCBX) posted its earnings results on Wednesday. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.08, Zacks reports. The company 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 8.46% and a net margin of 11.64%. During the same period in the previous year, the company earned $0.53 EPS.

Third Coast Bancshares Price Performance

Shares of Third Coast Bancshares stock traded up $0.44 during trading on Thursday, hitting $25.08. 57,942 shares of the company were exchanged, compared to its average volume of 31,479. The firm has a market capitalization of $342.34 million, a P/E ratio of 12.91 and a beta of 0.30. Third Coast Bancshares has a 1-year low of $14.09 and a 1-year high of $26.38. The firm’s fifty day moving average price is $21.13 and its 200 day moving average price is $20.07.

Insider Transactions at Third Coast Bancshares

In related news, insider William Bobbora bought 2,484 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average cost of $21.44 per share, for a total transaction of $53,256.96. Following the transaction, the insider now owns 35,639 shares of the company’s stock, valued at $764,100.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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.