The current average analyst rating on the shares is buy, with 2 strong buy or buy ratings, 2 hold ratings, and no sell or strong sell ratings.
The median 12-month price target is $44.00, about 9.8% above the July 21 closing price of $40.07. The stock recently traded at 10 times next 12-month earnings, versus a P/E of 9 three months ago.
Quarterly figures and outlook
Metric
Actual
Q2 EPS
$1.08
Q2 Net Income
$21.99 million
Q2 Net Interest Income
$60.28 million
Q2 Loan Loss Provision
$2.07 million
Third Coast did not provide specific guidance or forecasts for the current or future periods.
Net interest income for the quarter climbed 22% year over year to $60.28 million.
The company said the improvement was driven by loan growth, particularly in commercial and industrial loans. Lower costs on interest-bearing deposits also supported net interest margin improvement from the prior quarter.
Record quarterly EPS on asset sale gain
Third Coast Bancshares said second-quarter diluted earnings per share rose to a record high, while net income increased year over year.
The Texas commercial bank said it booked a $3.5 million gain from the sale of assets at Third Coast Commercial Capital, which helped lift results.
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