CoastalSouth Bancshares (NYSE:COSO) CFO Anthony Valduga Sells 4,558 Shares

CoastalSouth Bancshares, Inc. (NYSE:COSO) CFO Anthony Valduga sold 4,558 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,225,211.60. This represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CoastalSouth Bancshares Stock Up 0.6%

CoastalSouth Bancshares stock traded up $0.15 during midday trading on Wednesday, reaching $25.81. The stock had a trading volume of 111,819 shares, compared to its average volume of 96,087. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 0.93. CoastalSouth Bancshares, Inc. has a 52-week low of $19.24 and a 52-week high of $26.36. The company has a market capitalization of $305.87 million and a price-to-earnings ratio of 11.73. The stock has a fifty day simple moving average of $24.83.

CoastalSouth Bancshares (NYSE:COSO) last posted its quarterly earnings data on Monday, April 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). CoastalSouth Bancshares had a return on equity of 10.92% and a net margin of 18.91%.The firm had revenue of $21.71 million during the quarter, compared to analysts’ expectations of $22.10 million. Equities research analysts predict that CoastalSouth Bancshares, Inc. will post 2.42 EPS for the current year.

CoastalSouth Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, May 14th. CoastalSouth Bancshares’s dividend payout ratio is currently 9.09%.

Institutional Investors Weigh In On CoastalSouth Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Patriot Financial Partners GP II L.P. lifted its stake in shares of CoastalSouth Bancshares by 61.2% during the first quarter. Patriot Financial Partners GP II L.P. now owns 1,159,211 shares of the company’s stock worth $28,505,000 after buying an additional 440,000 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of CoastalSouth Bancshares by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 20,591 shares of the company’s stock worth $506,000 after purchasing an additional 503 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of CoastalSouth Bancshares by 1.2% during the first quarter. HB Wealth Management LLC now owns 38,643 shares of the company’s stock worth $950,000 after purchasing an additional 459 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of CoastalSouth Bancshares during the fourth quarter worth $241,000. Finally, North Reef Capital Management LP raised its holdings in shares of 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 last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on COSO shares. Weiss Ratings reiterated a “buy (b)” rating on shares of CoastalSouth Bancshares in a report on Thursday, January 22nd. Wall Street Zen upgraded CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Piper Sandler lifted their price objective on shares of CoastalSouth Bancshares from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

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.