CoastalSouth Bancshares (NYSE:COSO) Announces Earnings Results, Misses Expectations By $0.04 EPS

CoastalSouth Bancshares (NYSE:COSO) posted its quarterly earnings data on Tuesday. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.04), Zacks reports.

CoastalSouth Bancshares Stock Performance

Shares of NYSE COSO traded down $0.17 during trading on Tuesday, hitting $23.73. 44,237 shares of the company traded hands, compared to its average volume of 66,361. The firm has a fifty day moving average of $23.02. CoastalSouth Bancshares has a fifty-two week low of $19.24 and a fifty-two week high of $25.56. The firm has a market cap of $284.29 million and a price-to-earnings ratio of 21.38. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.80.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in CoastalSouth Bancshares in the third quarter worth approximately $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of CoastalSouth Bancshares during the third quarter worth approximately $47,000. JPMorgan Chase & Co. bought a new position in shares of CoastalSouth Bancshares in the 3rd quarter worth $67,000. Rhumbline Advisers acquired a new stake in CoastalSouth Bancshares in the 3rd quarter valued at $91,000. Finally, Bank of America Corp DE bought a new stake in CoastalSouth Bancshares during the 3rd quarter valued at $147,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on COSO shares. Zacks Research raised CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a research note on Friday, January 2nd. Weiss Ratings assumed coverage on shares of CoastalSouth Bancshares in a report on Saturday, October 25th. They set a “buy (b)” rating for the company. Finally, Wall Street Zen upgraded shares of CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, CoastalSouth Bancshares has a consensus rating of “Moderate Buy”.

CoastalSouth Bancshares Company Profile

CoastalSouth Bancshares, Inc is a bank holding company headquartered in Atlanta, Georgia. Through our wholly owned subsidiary, Coastal States Bank, a South Carolina state-chartered commercial bank, we offer a full range of banking products and services designed for businesses, real estate professionals, and consumers looking for a deep and meaningful relationship with their bank. Today, we have a community banking presence in some of the fastest growing and most business-friendly markets in the U.S., namely the Lowcountry of South Carolina (Hilton Head Island, Bluffton, and Beaufort), nearby Savannah, Georgia, and the Atlanta, Georgia market.