CoastalSouth Bancshares (NYSE:COSO) Posts Earnings Results

CoastalSouth Bancshares (NYSE:COSO) announced its quarterly earnings results on Monday. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05), Zacks reports.

CoastalSouth Bancshares Stock Performance

Shares of CoastalSouth Bancshares stock traded up $0.01 during trading on Monday, reaching $25.95. The company’s stock had a trading volume of 36,525 shares, compared to its average volume of 87,472. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 0.93. The stock has a fifty day moving average price of $24.75. The company has a market cap of $307.59 million and a price-to-earnings ratio of 15.36. CoastalSouth Bancshares has a one year low of $19.24 and a one year high of $26.29.

CoastalSouth Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were paid a $0.05 dividend. The ex-dividend date was Thursday, February 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. CoastalSouth Bancshares’s payout ratio is presently 11.83%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CoastalSouth Bancshares in a research report on Thursday, January 22nd. Zacks Research raised CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a research report on Friday, January 2nd. Wall Street Zen raised CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Piper Sandler lifted their price objective on CoastalSouth Bancshares from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, CoastalSouth Bancshares has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Hedge Funds Weigh In On CoastalSouth Bancshares

A number of institutional investors have recently made changes to their positions in COSO. Police & Firemen s Retirement System of New Jersey bought a new position in shares of CoastalSouth Bancshares in the fourth quarter worth about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in CoastalSouth Bancshares during the third quarter valued at about $47,000. BNP Paribas Financial Markets bought a new position in CoastalSouth Bancshares during the third quarter valued at about $47,000. JPMorgan Chase & Co. bought a new position in CoastalSouth Bancshares during the third quarter valued at about $67,000. Finally, Rhumbline Advisers bought a new position in CoastalSouth Bancshares during the third quarter valued at about $91,000.

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.