CoastalSouth Bancshares (NYSE:COSO) Releases Earnings Results, Misses Estimates By $0.05 EPS

Key Points

• CoastalSouth missed earnings expectations: the bank reported Q EPS of $0.51 versus analysts' consensus of $0.56, a $0.05 shortfall.
• The company pays a quarterly dividend of $0.05 (annualized $0.20) yielding 0.8%, with a dividend payout ratio of about 11.83%.
• Analyst sentiment is mildly positive with a consensus rating of "Moderate Buy" and an average price target of $29.00; Piper Sandler recently raised its target to $29 and two analysts rate the stock as Buy while one rates it Hold.

CoastalSouth Bancshares (NYSE:COSO - Get Free Report) issued 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 Price Performance

COSO traded up $0.01 during trading on Monday, reaching $25.95. 36,525 shares of the stock traded hands, compared to its average volume of 87,472. The stock has a market cap of $307.59 million and a PE ratio of 15.36. CoastalSouth Bancshares has a fifty-two week low of $19.24 and a fifty-two week high of $26.29. 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 firm's 50-day moving average price is $24.75.

CoastalSouth Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. CoastalSouth Bancshares's dividend payout ratio (DPR) is presently 11.83%.

Analysts Set New Price Targets

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

Institutional Trading of CoastalSouth Bancshares

Institutional investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of CoastalSouth Bancshares in the fourth quarter worth about $40,000. Charles Schwab Investment Management Inc. lifted its position in shares of CoastalSouth Bancshares by 11.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,362 shares of the company's stock worth $404,000 after buying an additional 1,780 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of CoastalSouth Bancshares in the third quarter worth about $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of CoastalSouth Bancshares in the third quarter worth about $47,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of CoastalSouth Bancshares in the third quarter worth about $67,000.

CoastalSouth Bancshares Company Profile

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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