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

CoastalSouth Bancshares (NYSE:COSO) posted its quarterly earnings results on Monday. The company reported $0.71 earnings per share for the quarter, topping 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%. The company had revenue of $24.86 million for the quarter.

CoastalSouth Bancshares Stock Performance

COSO stock opened at $26.47 on Tuesday. The company has a market cap of $316.28 million, a P/E ratio of 12.01 and a beta of 0.07. CoastalSouth Bancshares has a 1 year low of $20.80 and a 1 year high of $28.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.84. The stock’s fifty day moving average price is $27.14 and its 200-day moving average price is $26.52.

CoastalSouth Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from CoastalSouth Bancshares’s previous quarterly dividend of $0.05. CoastalSouth Bancshares’s payout ratio is currently 9.01%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COSO. Zacks Research cut shares of CoastalSouth Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, September 24th. Weiss Ratings raised shares of 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 objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, CoastalSouth Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Insider Activity at CoastalSouth Bancshares

In related news, Director Ernst Bruderer sold 2,000 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $27.43, for a total transaction of $54,860.00. Following the completion of the sale, the director owned 41,131 shares in the company, valued at approximately $1,128,223.33. This represents a 4.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 5,000 shares of company stock valued at $137,420 over the last three months. Insiders own 15.11% of the company’s stock.

About CoastalSouth Bancshares

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.