Third Coast Bancshares (TCBX) Set to Announce Earnings on Wednesday

Third Coast Bancshares (NASDAQ:TCBX) is set to release its earnings data after the market closes on Wednesday, April 24th. Analysts expect Third Coast Bancshares to post earnings of $0.48 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Third Coast Bancshares (NASDAQ:TCBX) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. The business had revenue of $39.49 million during the quarter, compared to the consensus estimate of $37.74 million. Third Coast Bancshares had a net margin of 12.16% and a return on equity of 8.38%. On average, analysts expect Third Coast Bancshares to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Third Coast Bancshares Stock Down 1.1 %

TCBX stock opened at $18.30 on Wednesday. The company has a market capitalization of $249.06 million, a P/E ratio of 9.29 and a beta of 0.65. The company has a 50-day simple moving average of $19.33 and a 200 day simple moving average of $18.42. Third Coast Bancshares has a fifty-two week low of $12.31 and a fifty-two week high of $21.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TCBX shares. Raymond James boosted their price target on shares of Third Coast Bancshares from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods initiated coverage on Third Coast Bancshares in a report on Thursday, January 11th. They set an “outperform” rating and a $26.00 price objective on the stock.

Institutional Trading of Third Coast Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in Third Coast Bancshares by 11.1% during the 2nd quarter. Royal Bank of Canada now owns 6,023 shares of the company’s stock worth $96,000 after buying an additional 603 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Third Coast Bancshares by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 35,100 shares of the company’s stock valued at $647,000 after purchasing an additional 851 shares during the period. State Street Corp lifted its position in shares of Third Coast Bancshares by 0.5% in the second quarter. State Street Corp now owns 191,074 shares of the company’s stock worth $3,032,000 after purchasing an additional 900 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Third Coast Bancshares by 5.8% in the second quarter. Marshall Wace LLP now owns 25,228 shares of the company’s stock worth $400,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Third Coast Bancshares by 5.0% in the fourth quarter. Renaissance Technologies LLC now owns 35,800 shares of the company’s stock worth $660,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 36.88% 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.