CoastalSouth Bancshares (NYSE:COSO) Issues Earnings Results

CoastalSouth Bancshares (NYSE:COSO) released its quarterly earnings results on Monday. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02), Zacks reports. CoastalSouth Bancshares had a net margin of 18.91% and a return on equity of 10.66%.

CoastalSouth Bancshares Trading Down 1.1%

NYSE COSO traded down $0.29 on Monday, hitting $26.77. 50,359 shares of the company traded hands, compared to its average volume of 104,199. The company has a market capitalization of $322.25 million and a price-to-earnings ratio of 12.17. The business’s 50 day moving average price is $26.25 and its 200-day moving average price is $25.16. CoastalSouth Bancshares has a 52-week low of $19.24 and a 52-week high of $28.02.

Insiders Place Their Bets

In related news, CFO Anthony P. Valduga sold 4,558 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $25.84, for a total value of $117,778.72. Following the completion of the transaction, the chief financial officer owned 86,115 shares of the company’s stock, valued at approximately $2,225,211.60. This represents a 5.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 15.11% of the company’s stock.

Institutional Investors Weigh In On CoastalSouth Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of CoastalSouth Bancshares in the fourth quarter valued at about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of CoastalSouth Bancshares during the third quarter worth about $47,000. BNP Paribas Financial Markets bought a new stake in CoastalSouth Bancshares during the 3rd quarter valued at approximately $47,000. JPMorgan Chase & Co. purchased a new position in CoastalSouth Bancshares in the 3rd quarter worth approximately $67,000. Finally, Rhumbline Advisers bought a new position in CoastalSouth Bancshares in the 3rd quarter worth approximately $91,000.

Analyst Ratings Changes

COSO has been the subject of a number of recent research reports. Piper Sandler boosted their price target on CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a “buy (b+)” rating on shares of CoastalSouth Bancshares in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

About CoastalSouth Bancshares

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.