CoastalSouth Bancshares (NYSE:COSO) Posts Earnings Results

CoastalSouth Bancshares (NYSE:COSO) released its quarterly earnings data on Monday. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.12, Zacks reports. The firm had revenue of $24.86 million for the quarter. CoastalSouth Bancshares had a net margin of 20.56% and a return on equity of 11.20%.

CoastalSouth Bancshares Trading Up 1.9%

NYSE COSO opened at $27.03 on Wednesday. The stock has a market capitalization of $323.08 million, a price-to-earnings ratio of 11.31 and a beta of 0.07. The business’s fifty day moving average is $27.13 and its 200-day moving average is $26.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.84. CoastalSouth Bancshares has a one year low of $20.80 and a one year high of $28.56.

CoastalSouth Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, November 10th will be paid a $0.06 dividend. This is a boost from CoastalSouth Bancshares’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, November 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.9%. CoastalSouth Bancshares’s dividend payout ratio is currently 8.37%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other CoastalSouth Bancshares news, Director Ernst Bruderer sold 2,000 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $27.43, for a total value of $54,860.00. Following the transaction, the director directly owned 41,131 shares in the company, valued at $1,128,223.33. The trade was a 4.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 5,000 shares of company stock valued at $137,420 over the last 90 days. Insiders own 15.11% of the company’s stock.

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.