Brokerages expect Third Coast Bancshares, Inc. (NASDAQ:TCBX) to report quarterly sales of $31.75 million
Brokers expect Third Coast Bancshares, Inc. (NASDAQ:TCBX – Get Rating) to report $31.75 million in sales for the current fiscal quarter, Zacks reports. Two analysts have released earnings estimates for Third Coast Bancshares, with the highest sales estimate of $32.80 million and the lowest estimate of $30.70 million. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Third Coast Bancshares to report annual sales of $128.13 million for the current year, with estimates ranging from $123.60 million to $132.66 million. . For the next fiscal year, analysts expect the company to post sales of $163.00 million, with estimates ranging from $150.90 million to $175.10 million. Zacks Investment Research’s sell calculations are an average based on a survey of sell-side analysts who provide coverage for Third Coast Banc shares.
Third Coast Bancshares (NASDAQ:TCBX – Get Rating) last released its quarterly results on Thursday, April 28. The company reported EPS of $0.15 for the quarter, missing Thomson Reuters consensus estimate of $0.22 per ($0.07).
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Several analysts have recently released reports on TCBX shares. Stephens lowered its price target on shares of Third Coast Bancshares from $30.00 to $28.00 and set an “overweight” rating on the stock in a Tuesday, April 5 research report. Zacks Investment Research downgraded shares of Third Coast Bancshares from a “hold” rating to a “strong sell” rating in a Tuesday, April 12 research report.
TCBX stock opened at $22.67 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt ratio of 0.17. The company’s fifty-day moving average price is $22.80. Third Coast Bancshares has a one-year low of $22.01 and a one-year high of $30.50.
Several large investors have recently bought and sold shares of the company. Full18 Capital LLC bought a new position in shares of Third Coast Bancshares in the first quarter for a value of approximately $1,909,000. Truist Financial Corp bought a new position in shares of Third Coast Bancshares in the first quarter for a value of approximately $617,000. Stephens Inc. AR bought a new position in shares of Third Coast Bancshares in the fourth quarter for a value of approximately $2,250,000. BlackRock Inc. bought a new position in shares of Third Coast Bancshares in the fourth quarter for a value of approximately $2,872,000. Finally, Wells Fargo & Company MN bought a new position in shares of Third Coast Bancshares in the fourth quarter worth approximately $57,000. 0.78% of the shares are currently held by hedge funds and other institutional investors.
About Third Coast Bancshares (Get an assessment)
Third Coast Bancshares, Inc operates as a bank holding company for Third Coast Bank, SSB which provides various commercial banking solutions to small and medium 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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