Third Coast Bancshares (NASDAQ:TCBX – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08, Zacks reports. The business had revenue of $84.11 million during the quarter, compared to analysts’ expectations of $41.00 million. Third Coast Bancshares had a net margin of 11.64% and a return on equity of 8.46%. During the same quarter last year, the company posted $0.53 earnings per share.
Third Coast Bancshares Stock Performance
Shares of Third Coast Bancshares stock traded up $0.44 during trading on Thursday, hitting $25.08. 57,942 shares of the company’s stock were exchanged, compared to its average volume of 31,479. The business has a 50-day simple moving average of $21.13 and a 200-day simple moving average of $20.07. Third Coast Bancshares has a 52-week low of $14.09 and a 52-week high of $26.38. The stock has a market capitalization of $342.34 million, a price-to-earnings ratio of 12.35 and a beta of 0.30.
Insider Buying and Selling
In other news, insider William Bobbora acquired 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was bought at an average price of $21.32 per share, with a total value of $31,980.00. Following the completion of the acquisition, the insider now owns 2,600 shares of the company’s stock, valued at $55,432. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.20% of the stock is currently owned by corporate 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.
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