CoastalSouth Bancshares (NYSE:COSO) Stock Picked Up by Analysts at Brean Capital

Stock analysts at Brean Capital began coverage on shares of CoastalSouth Bancshares (NYSE:COSO) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $33.00 price target on the stock. Brean Capital’s price objective points to a potential upside of 23.90% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Zacks Research downgraded CoastalSouth Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, September 24th. Weiss Ratings upgraded shares of CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.50.

CoastalSouth Bancshares Stock Down 1.5%

Shares of NYSE COSO opened at $26.64 on Tuesday. The company has a market cap of $318.39 million, a price-to-earnings ratio of 12.00 and a beta of 0.07. CoastalSouth Bancshares has a 12-month low of $20.80 and a 12-month high of $28.56. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $27.21 and its 200 day simple moving average is $26.48.

CoastalSouth Bancshares (NYSE:COSO) last posted its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02). CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.57%. The firm had revenue of $22.87 million during the quarter. On average, research analysts expect that CoastalSouth Bancshares will post 2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ernst Bruderer sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $27.43, for a total transaction of $54,860.00. Following the completion of the transaction, the director directly owned 41,131 shares of the company’s stock, valued at $1,128,223.33. This trade represents a 4.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 5,000 shares of company stock worth $137,420. Corporate insiders own 15.11% of the company’s stock.

Institutional Trading of CoastalSouth Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. HB Wealth Management LLC increased its position in 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 buying an additional 459 shares during the last quarter. Bank of New York Mellon Corp raised its stake in CoastalSouth Bancshares by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 20,591 shares of the company’s stock valued at $506,000 after buying an additional 503 shares during the period. Sei Investments Co. lifted its position in shares of CoastalSouth Bancshares by 61.5% in the first quarter. Sei Investments Co. now owns 21,672 shares of the company’s stock valued at $533,000 after buying an additional 8,249 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of CoastalSouth Bancshares in the second quarter valued at approximately $294,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of CoastalSouth Bancshares in the second quarter valued at approximately $314,000.

CoastalSouth Bancshares Company Profile

CoastalSouth Bancshares, Inc is a bank holding company that operates through its wholly owned subsidiary, Coastal States Bank. The company provides community banking services to individuals, families, businesses and nonprofit organizations.

Coastal States Bank offers a range of deposit products, commercial and consumer lending, mortgage lending, cash-management and treasury services, online and mobile banking, and other traditional banking solutions. Its lending activities include commercial real estate, business, residential mortgage and consumer loans.

Founded in 2003, CoastalSouth Bancshares serves communities in coastal South Carolina and Georgia, including the Hilton Head Island and Savannah markets.