CoastalSouth Bancshares (NYSE:COSO) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

CoastalSouth Bancshares (NYSE:COSO) posted its quarterly earnings data on Tuesday. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.04), Zacks reports.

CoastalSouth Bancshares Stock Down 0.7%

Shares of COSO stock traded down $0.17 on Tuesday, reaching $23.73. The company’s stock had a trading volume of 44,237 shares, compared to its average volume of 66,361. The firm has a market cap of $284.29 million and a P/E ratio of 21.38. CoastalSouth Bancshares has a 12-month low of $19.24 and a 12-month high of $25.56. The company has a 50 day simple moving average of $23.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.80.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COSO. Weiss Ratings initiated coverage on CoastalSouth Bancshares in a report on Saturday, October 25th. They issued a “buy (b)” rating on the stock. Wall Street Zen upgraded CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Zacks Research upgraded CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a research note on Friday, January 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Patriot Financial Partners GP II L.P. purchased a new position in shares of CoastalSouth Bancshares during the third quarter worth approximately $24,256,000. Alliancebernstein L.P. bought a new stake in shares of CoastalSouth Bancshares during the 3rd quarter valued at about $10,972,000. Mendon Capital Advisors Corp purchased a new position in shares of CoastalSouth Bancshares in the 3rd quarter valued at approximately $7,243,000. Vanguard Group Inc. purchased a new position in CoastalSouth Bancshares during the 3rd quarter valued at about $3,212,000. Finally, Kennedy Capital Management LLC purchased a new stake in shares of CoastalSouth Bancshares in the 3rd quarter worth approximately $874,000.

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.