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

Third Coast Bancshares (NASDAQ:TCBX) issued its quarterly earnings data on Wednesday. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.11, Zacks reports. Third Coast Bancshares had a net margin of 14.06% and a return on equity of 10.93%.

Third Coast Bancshares Price Performance

TCBX opened at $35.08 on Friday. The stock has a market capitalization of $479.89 million, a P/E ratio of 12.66 and a beta of 0.31. The company’s 50 day simple moving average is $34.44 and its 200-day simple moving average is $29.05. Third Coast Bancshares has a one year low of $18.00 and a one year high of $37.65.

Insider Buying and Selling

In other news, insider William Bobbora bought 1,450 shares of the stock in a transaction dated Thursday, December 5th. The stock was bought at an average cost of $35.33 per share, with a total value of $51,228.50. Following the purchase, the insider now owns 6,050 shares of the company’s stock, valued at approximately $213,746.50. This represents a 31.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 10.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of Third Coast Bancshares in a research report on Thursday.

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.