Third Coast Bancshares (NASDAQ:TCBX – Get Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, January 26th. Analysts expect the company to announce earnings of $0.42 per share for the quarter.
Third Coast Bancshares (NASDAQ:TCBX – Get Rating) last announced its earnings results on Wednesday, October 26th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.15. The firm had revenue of $33.89 million during the quarter, compared to analysts' expectations of $31.40 million. Third Coast Bancshares had a return on equity of 3.59% and a net margin of 8.39%. On average, analysts expect Third Coast Bancshares to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.
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Third Coast Bancshares Price Performance
Shares of Third Coast Bancshares stock traded down $0.31 on Tuesday, reaching $18.52. The company had a trading volume of 9,662 shares, compared to its average volume of 22,784. The firm has a market cap of $250.61 million, a price-to-earnings ratio of 22.41 and a beta of 0.39. The firm's 50-day moving average price is $18.89 and its two-hundred day moving average price is $18.90. Third Coast Bancshares has a 1 year low of $16.35 and a 1 year high of $26.75.
Third Coast Bancshares Dividend Announcement
The business also recently announced an annual dividend, which was paid on Tuesday, January 17th. Stockholders of record on Saturday, December 31st were issued a $17.25 dividend. The ex-dividend date was Thursday, December 29th.
Hedge Funds Weigh In On Third Coast Bancshares
Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its holdings in Third Coast Bancshares by 149.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,940 shares of the company's stock valued at $50,000 after acquiring an additional 1,760 shares during the period. Royal Bank of Canada lifted its holdings in shares of Third Coast Bancshares by 80.0% in the 3rd quarter. Royal Bank of Canada now owns 3,995 shares of the company's stock worth $68,000 after buying an additional 1,776 shares during the period. American International Group Inc. lifted its holdings in shares of Third Coast Bancshares by 196.3% in the 2nd quarter. American International Group Inc. now owns 5,980 shares of the company's stock worth $131,000 after buying an additional 3,962 shares during the period. UBS Group AG lifted its holdings in shares of Third Coast Bancshares by 235.5% in the 1st quarter. UBS Group AG now owns 6,049 shares of the company's stock worth $140,000 after buying an additional 4,246 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Third Coast Bancshares by 166.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,831 shares of the company's stock worth $150,000 after buying an additional 4,269 shares during the period. Hedge funds and other institutional investors own 50.00% of the company's stock.
Analyst Ratings Changes
A number of research firms recently issued reports on TCBX. Raymond James cut Third Coast Bancshares from an "outperform" rating to a "market perform" rating in a report on Thursday, October 6th. Piper Sandler dropped their price objective on Third Coast Bancshares from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, October 13th.
Third Coast Bancshares Company Profile
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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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