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

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

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings results on Thursday, January 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. Third Coast Bancshares had a return on equity of 8.38% and a net margin of 12.16%. The business had revenue of $39.49 million during the quarter, compared to analyst estimates of $37.74 million. 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 Performance

NASDAQ:TCBX opened at $18.30 on Wednesday. The stock has a 50-day simple moving average of $19.33 and a two-hundred day simple moving average of $18.42. Third Coast Bancshares has a 52-week low of $12.31 and a 52-week high of $21.50. The firm has a market capitalization of $249.06 million, a PE ratio of 9.29 and a beta of 0.65.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TCBX. Keefe, Bruyette & Woods began coverage on Third Coast Bancshares in a report on Thursday, January 11th. They set an “outperform” rating and a $26.00 price target for the company. Raymond James boosted their price target on Third Coast Bancshares from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, January 29th.

Hedge Funds Weigh In On Third Coast Bancshares

A number of hedge funds have recently made changes to their positions in TCBX. Kennedy Capital Management LLC bought a new position in shares of Third Coast Bancshares in the second quarter worth about $3,027,000. Vanguard Group Inc. lifted its position in shares of Third Coast Bancshares by 189.8% in the first quarter. Vanguard Group Inc. now owns 205,770 shares of the company’s stock worth $4,754,000 after buying an additional 134,767 shares in the last quarter. BlackRock Inc. lifted its position in shares of Third Coast Bancshares by 16.0% in the third quarter. BlackRock Inc. now owns 736,913 shares of the company’s stock worth $12,608,000 after buying an additional 101,531 shares in the last quarter. State Street Corp lifted its position in shares of Third Coast Bancshares by 144.1% in the second quarter. State Street Corp now owns 124,934 shares of the company’s stock worth $2,736,000 after buying an additional 73,759 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Third Coast Bancshares in the fourth quarter worth about $1,162,000. Institutional investors 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.