CoastalSouth Bancshares (NYSE:COSO) Trading 0.4% Higher – Here’s Why

CoastalSouth Bancshares, Inc. (NYSE:COSO) shares rose 0.4% on Friday . The stock traded as high as $26.75 and last traded at $26.3990. 57,880 shares changed hands during trading, a decline of 66% from the average daily volume of 172,488 shares. The stock had previously closed at $26.30.

Wall Street Analyst Weigh In

Several brokerages have weighed in on COSO. Piper Sandler lifted their target price on CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Weiss Ratings restated a “buy (b+)” rating on shares of CoastalSouth Bancshares in a research note on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.00.

CoastalSouth Bancshares Trading Up 0.4%

The firm has a market cap of $317.74 million and a PE ratio of 12.00. The company has a 50 day moving average price of $26.13 and a 200 day moving average price of $25.06.

CoastalSouth Bancshares (NYSE:COSO) last posted its earnings results on Monday, April 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). The business had revenue of $21.71 million for the quarter, compared to analysts’ expectations of $22.10 million. CoastalSouth Bancshares had a net margin of 18.91% and a return on equity of 10.66%. As a group, equities research analysts anticipate that CoastalSouth Bancshares, Inc. will post 2.42 earnings per share for the current fiscal year.

CoastalSouth Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, May 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. CoastalSouth Bancshares’s payout ratio is 9.09%.

Insider Buying and Selling at CoastalSouth Bancshares

In other CoastalSouth Bancshares news, CFO Anthony P. Valduga sold 4,558 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $25.84, for a total value of $117,778.72. Following the completion of the transaction, the chief financial officer directly owned 86,115 shares in the company, valued at approximately $2,225,211.60. The trade was a 5.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 15.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CoastalSouth Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of COSO. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of CoastalSouth Bancshares in the fourth quarter valued at $40,000. BNP Paribas Financial Markets purchased a new stake in CoastalSouth Bancshares during the 3rd quarter worth $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in CoastalSouth Bancshares in the 3rd quarter worth $47,000. JPMorgan Chase & Co. acquired a new position in CoastalSouth Bancshares in the 3rd quarter worth $67,000. Finally, Rhumbline Advisers purchased a new position in CoastalSouth Bancshares in the 3rd quarter valued at about $91,000.

About CoastalSouth Bancshares

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.