CoastalSouth Bancshares (NYSE:COSO) Announces Quarterly Earnings Results, Misses Estimates 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 the consensus estimate of $0.62 by ($0.04), Zacks reports.

CoastalSouth Bancshares Trading Down 0.7%

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On CoastalSouth Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in CoastalSouth Bancshares during the third quarter valued at approximately $432,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in CoastalSouth Bancshares in the 3rd quarter worth about $47,000. Bank of America Corp DE purchased a new stake in CoastalSouth Bancshares in the 3rd quarter worth $147,000. Alliancebernstein L.P. purchased a new stake in shares of CoastalSouth Bancshares during the third quarter worth approximately $10,972,000. Finally, Mendon Capital Advisors Corp purchased a new position in shares of CoastalSouth Bancshares in the third quarter worth about $7,243,000.

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.