CoastalSouth Bancshares (NYSE:COSO) Posts Earnings Results

CoastalSouth Bancshares (NYSE:COSO) released its quarterly earnings results on Monday. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02), Zacks reports. CoastalSouth Bancshares had a net margin of 18.91% and a return on equity of 10.66%.

CoastalSouth Bancshares Price Performance

NYSE COSO traded down $0.29 during mid-day trading on Monday, reaching $26.77. 50,359 shares of the stock were exchanged, compared to its average volume of 104,377. The stock has a market cap of $322.25 million and a P/E ratio of 12.17. CoastalSouth Bancshares has a one year low of $19.24 and a one year high of $28.02. The stock has a 50 day simple moving average of $26.25 and a 200-day simple moving average of $25.16.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler raised their price objective on CoastalSouth Bancshares from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “buy (b+)” rating on shares of CoastalSouth Bancshares in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Insider Buying and Selling

In other CoastalSouth Bancshares news, CFO Anthony P. Valduga sold 4,558 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $25.84, for a total transaction of $117,778.72. Following the sale, the chief financial officer owned 86,115 shares of the company’s stock, valued at approximately $2,225,211.60. This represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 15.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in COSO. Quadrature Capital Ltd acquired a new position in shares of CoastalSouth Bancshares in the 4th quarter valued at about $241,000. North Reef Capital Management LP grew its stake in CoastalSouth Bancshares by 19.6% during the fourth quarter. North Reef Capital Management LP now owns 263,900 shares of the company’s stock worth $6,136,000 after purchasing an additional 43,281 shares during the period. Barclays PLC grew its stake in CoastalSouth Bancshares by 82.0% during the fourth quarter. Barclays PLC now owns 11,971 shares of the company’s stock worth $278,000 after purchasing an additional 5,392 shares during the period. Marshall Wace LLP acquired a new stake in CoastalSouth Bancshares during the fourth quarter worth approximately $1,220,000. Finally, Fourthstone LLC increased its holdings in CoastalSouth Bancshares by 153.8% in the fourth quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock worth $22,315,000 after purchasing an additional 581,656 shares in the last quarter.

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.