CoastalSouth Bancshares (NYSE:COSO) Issues Earnings Results, Misses Expectations By $0.05 EPS

CoastalSouth Bancshares (NYSE:COSO) announced its quarterly earnings results on Monday. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05), Zacks reports. CoastalSouth Bancshares had a return on equity of 10.92% and a net margin of 18.91%.The firm had revenue of $21.71 million for the quarter, compared to analysts’ expectations of $22.10 million.

CoastalSouth Bancshares Stock Performance

NYSE:COSO opened at $25.01 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.84. The business’s fifty day moving average is $24.76. The firm has a market capitalization of $296.38 million and a PE ratio of 11.37. CoastalSouth Bancshares has a fifty-two week low of $19.24 and a fifty-two week high of $26.36.

CoastalSouth Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, May 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. CoastalSouth Bancshares’s dividend payout ratio is currently 11.83%.

Hedge Funds Weigh In On CoastalSouth Bancshares

Large investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of CoastalSouth Bancshares in the fourth quarter valued at about $40,000. BNP Paribas Financial Markets acquired a new stake in shares of CoastalSouth Bancshares in the third quarter valued at about $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of CoastalSouth Bancshares in the third quarter valued at about $47,000. JPMorgan Chase & Co. acquired a new stake in shares of CoastalSouth Bancshares in the third quarter valued at about $67,000. Finally, Rhumbline Advisers acquired a new stake in shares of CoastalSouth Bancshares in the third quarter valued at about $91,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on COSO. Weiss Ratings reissued a “buy (b)” rating on shares of CoastalSouth Bancshares in a report on Thursday, January 22nd. Piper Sandler increased their price target on shares of CoastalSouth Bancshares from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Zacks Research raised shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Finally, Wall Street Zen raised shares of CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

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.