CoastalSouth Bancshares (NYSE:COSO) Issues Earnings Results

CoastalSouth Bancshares (NYSE:COSO) posted its quarterly earnings results on Monday. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.12, Zacks reports. CoastalSouth Bancshares had a return on equity of 10.57% and a net margin of 19.59%.

CoastalSouth Bancshares Stock Performance

NYSE:COSO traded down $0.18 during mid-day trading on Monday, hitting $26.47. The company’s stock had a trading volume of 37,434 shares, compared to its average volume of 103,239. The business’s fifty day moving average is $27.17 and its two-hundred day moving average is $26.51. The stock 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 debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.84. CoastalSouth Bancshares has a 1 year low of $20.80 and a 1 year high of $28.56.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COSO shares. Zacks Research cut CoastalSouth Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 24th. Weiss Ratings upgraded CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 12th. Finally, Brean Capital began coverage on shares of CoastalSouth Bancshares in a report on Tuesday, October 13th. They issued a “buy” rating and a $33.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.50.

Insider Buying and Selling at CoastalSouth Bancshares

In other news, Director Ernst Bruderer sold 2,000 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $27.43, for a total value of $54,860.00. Following the completion of the transaction, the director owned 41,131 shares of the company’s stock, valued at $1,128,223.33. The trade was a 4.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 5,000 shares of company stock worth $137,420. Company 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.