CoastalSouth Bancshares (NYSE:COSO) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

CoastalSouth Bancshares (NYSE:COSO) issued its earnings results on Monday. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.12, Zacks reports. The business had revenue of $24.86 million during the quarter. CoastalSouth Bancshares had a return on equity of 10.57% and a net margin of 19.59%.

CoastalSouth Bancshares Stock Down 0.7%

Shares of NYSE:COSO traded down $0.18 during trading on Monday, hitting $26.47. 38,324 shares of the company’s stock traded hands, compared to its average volume of 103,288. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.28. The company has a market cap of $316.28 million, a price-to-earnings ratio of 11.92 and a beta of 0.07. The company has a 50-day moving average price of $27.17 and a 200-day moving average price of $26.51. CoastalSouth Bancshares has a 52 week low of $20.80 and a 52 week high of $28.56.

Insider Activity at CoastalSouth Bancshares

In related news, Director Ernst Bruderer sold 2,000 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $27.43, for a total value of $54,860.00. Following the completion of the transaction, the director directly owned 41,131 shares of the company’s stock, valued at approximately $1,128,223.33. This represents a 4.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 5,000 shares of company stock worth $137,420 in the last quarter. Company insiders own 15.11% of the company’s stock.

Analyst Ratings Changes

COSO has been the subject of a number of recent analyst reports. Brean Capital assumed coverage on shares of CoastalSouth Bancshares in a research report on Tuesday, October 13th. They set a “buy” rating and a $33.00 target price for the company. Zacks Research downgraded CoastalSouth Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 24th. Finally, Weiss Ratings raised shares of CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CoastalSouth Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

CoastalSouth Bancshares Company Profile

CoastalSouth Bancshares, Inc is a bank holding company that operates through its wholly owned subsidiary, Coastal States Bank. The company provides community banking services to individuals, families, businesses and nonprofit organizations.

Coastal States Bank offers a range of deposit products, commercial and consumer lending, mortgage lending, cash-management and treasury services, online and mobile banking, and other traditional banking solutions. Its lending activities include commercial real estate, business, residential mortgage and consumer loans.

Founded in 2003, CoastalSouth Bancshares serves communities in coastal South Carolina and Georgia, including the Hilton Head Island and Savannah markets.