CoastalSouth Bancshares (NYSE:COSO) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

CoastalSouth Bancshares (NYSE:COSOGet Free Report) issued its quarterly earnings results on Monday. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02), Zacks reports. The firm had revenue of $22.87 million for the quarter. CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.69%.

CoastalSouth Bancshares Stock Performance

Shares of NYSE:COSO opened at $26.60 on Wednesday. The company has a 50 day moving average price of $26.30 and a two-hundred day moving average price of $25.21. The company has a market capitalization of $320.29 million and a PE ratio of 11.98. CoastalSouth Bancshares has a 52 week low of $19.24 and a 52 week high of $28.02.

CoastalSouth Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. CoastalSouth Bancshares’s dividend payout ratio is presently 9.01%.

Analysts Set New Price Targets

Several analysts have weighed in on COSO shares. Piper Sandler boosted their price objective on CoastalSouth Bancshares from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of CoastalSouth Bancshares in a research note on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Get Our Latest Research Report on CoastalSouth Bancshares

Insider Buying and Selling at CoastalSouth Bancshares

In other news, CFO Anthony P. Valduga sold 4,558 shares of the business’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 $2,225,211.60. The trade was a 5.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

About CoastalSouth Bancshares

(Get Free Report)

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.

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