Third Coast Bancshares Inc reports results for the quarter ended in March - Earnings Summary

Third Coast Bancshares

24/04/2024 22:38

* Third Coast Bancshares Inc  TCBX.OQ  reported quarterly
adjusted
earnings of 61 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of 55 cents.  The mean expectation of four analysts
for the quarter was for earnings of 49 cents per share. Wall
Street expected results to range from 45 cents to 53 cents per
share.
    * Revenue rose 16.4% to $40.42 million from a year ago;
analysts
expected $39.30 million. 
    * Third Coast Bancshares Inc's reported EPS for the quarter
was 61
cents​.
    * The company reported quarterly net income of $9.2 million.
    * Third Coast Bancshares Inc shares had fallen by 1.8% this
quarter and lost 1.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 7.7%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Third Coast
Bancshares Inc is $23.50 
This summary was machine generated from LSEG data April 24 at
09:38 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.49           0.61           Beat
 Dec. 31 2023      0.49           0.57           Beat
 Sep. 30 2023      0.49           0.32           Missed
 Jun. 30 2023      0.50           0.53           Beat