Third Coast Bancshares (NASDAQ:TCBX) Issues Earnings Results

Third Coast Bancshares (NASDAQ:TCBX – Get Rating) posted its quarterly earnings results on Thursday. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02), MarketWatch Earnings reports.

Third Coast Bancshares stock opened at $22.67 on Monday. The stock has a 50 day moving average price of $22.80. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.17. Third Coast Bancshares has a fifty-two week low of $22.01 and a fifty-two week high of $30.50.

Several institutional investors have recently added to or reduced their stakes in TCBX. The Manufacturers Life Insurance Company purchased a new position in shares of Third Coast Bancshares in the fourth quarter worth approximately $7,906,000. BlackRock Inc. acquired a new stake in shares of Third Coast Bancshares during the fourth quarter worth approximately $2,872,000. Geode Capital Management LLC acquired a new stake in shares of Third Coast Bancshares during the fourth quarter worth approximately $1,423,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Third Coast Bancshares during the fourth quarter worth approximately $1,089,000. Finally, Millennium Management LLC acquired a new stake in shares of Third Coast Bancshares during the fourth quarter worth approximately $900,000. 0.78% of the stock is currently owned by institutional investors and hedge funds.

TCBX has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Third Coast Bancshares from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 12th. Stephens lowered their target price on shares of Third Coast Bancshares from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 5th.

Third Coast Bancshares Company Profile (Get Rating)

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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