CoastalSouth Bancshares (NYSE:COSO) Director Sells $27,560.00 in Stock

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 1,000 shares of CoastalSouth Bancshares stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $27.56, for a total transaction of $27,560.00. Following the sale, the director directly owned 46,131 shares in the company, valued at approximately $1,271,370.36. This trade represents a 2.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CoastalSouth Bancshares Price Performance

CoastalSouth Bancshares stock opened at $27.79 on Friday. The company has a fifty day simple moving average of $26.97 and a 200-day simple moving average of $25.69. The firm has a market capitalization of $332.08 million and a price-to-earnings ratio of 12.52. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 0.28. CoastalSouth Bancshares, Inc. has a 52-week low of $19.75 and a 52-week high of $28.56.

CoastalSouth Bancshares (NYSE:COSO) last posted its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). The business had revenue of $22.87 million during the quarter. CoastalSouth Bancshares had a return on equity of 10.57% and a net margin of 19.59%. On average, equities analysts anticipate that CoastalSouth Bancshares, Inc. will post 2.37 EPS for the current fiscal year.

CoastalSouth Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. CoastalSouth Bancshares’s dividend payout ratio (DPR) is 9.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on COSO shares. Piper Sandler upped their price target on CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $30.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COSO. Bank of New York Mellon Corp acquired a new stake in CoastalSouth Bancshares during the second quarter worth $574,000. Bank of America Corp DE raised its position in CoastalSouth Bancshares by 306.7% in the first quarter. Bank of America Corp DE now owns 16,014 shares of the company’s stock valued at $394,000 after purchasing an additional 12,076 shares during the period. Mendon Capital Advisors Corp lifted its stake in shares of CoastalSouth Bancshares by 24.1% in the 1st quarter. Mendon Capital Advisors Corp now owns 329,743 shares of the company’s stock valued at $8,108,000 after purchasing an additional 63,955 shares during the last quarter. North Reef Capital Management LP lifted its stake in shares of CoastalSouth Bancshares by 21.6% in the 1st quarter. North Reef Capital Management LP now owns 320,982 shares of the company’s stock valued at $7,893,000 after purchasing an additional 57,082 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of CoastalSouth Bancshares by 61.5% during the 1st quarter. Sei Investments Co. now owns 21,672 shares of the company’s stock worth $533,000 after purchasing an additional 8,249 shares during the period.

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.