CoastalSouth Bancshares (NYSE:COSO) Announces Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• CoastalSouth Bancshares reported quarterly EPS of $0.71, beating analyst expectations of $0.59 by $0.12. The company posted a 19.59% net margin and 10.57% return on equity.
• COSO shares fell $0.18 to $26.47, giving the company a market capitalization of approximately $316.3 million and a price-to-earnings ratio of 11.92.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus rating of “Moderate Buy” and a $31.50 target price, while insiders have sold 5,000 shares over the past quarter.

CoastalSouth Bancshares (NYSE:COSO - Get Free Report) posted its earnings results on Monday. The company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.12, Zacks reports. CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.57%.

CoastalSouth Bancshares Stock Performance

COSO stock traded down $0.18 during trading on Monday, reaching $26.47. The company had a trading volume of 37,434 shares, compared to its average volume of 103,239. The firm has a 50-day simple moving average of $27.17 and a 200-day simple moving average of $26.51. The company 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 quick ratio of 0.84 and a current ratio of 0.95. CoastalSouth Bancshares has a twelve month low of $20.80 and a twelve month high of $28.56.

Insiders Place Their Bets

In other CoastalSouth Bancshares news, Director Ernst Bruderer sold 2,000 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $27.43, for a total transaction of $54,860.00. Following the transaction, the director owned 41,131 shares in the company, valued at approximately $1,128,223.33. This represents a 4.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 5,000 shares of company stock worth $137,420. 15.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.

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