Patriot Financial Partners GP II L.P. Buys Shares of 719,211 CoastalSouth Bancshares, Inc. $COSO

Patriot Financial Partners GP II L.P. bought a new position in shares of CoastalSouth Bancshares, Inc. (NYSE:COSO) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 719,211 shares of the company’s stock, valued at approximately $15,686,000. CoastalSouth Bancshares makes up about 5.0% of Patriot Financial Partners GP II L.P.’s investment portfolio, making the stock its 8th largest position. Patriot Financial Partners GP II L.P. owned approximately 0.06% of CoastalSouth Bancshares at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in COSO. North Reef Capital Management LP acquired a new stake in shares of CoastalSouth Bancshares in the third quarter valued at about $4,812,000. Millennium Management LLC purchased a new stake in CoastalSouth Bancshares during the third quarter worth about $432,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in CoastalSouth Bancshares during the third quarter worth about $47,000. Azora Capital LP acquired a new position in CoastalSouth Bancshares during the third quarter worth about $8,704,000. Finally, Bank of America Corp DE purchased a new position in CoastalSouth Bancshares in the third quarter valued at about $147,000.

CoastalSouth Bancshares Stock Down 1.5%

COSO opened at $23.49 on Thursday. The firm has a market capitalization of $278.37 million and a price-to-earnings ratio of 13.90. CoastalSouth Bancshares, Inc. has a 52 week low of $19.24 and a 52 week high of $26.29. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average is $24.40.

CoastalSouth Bancshares (NYSE:COSO) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.04). The firm had revenue of $22.16 million for the quarter, compared to analyst estimates of $22.30 million.

CoastalSouth Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, February 12th. CoastalSouth Bancshares’s dividend payout ratio (DPR) is presently 11.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of 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 Sunday, March 8th. Piper Sandler lifted their price objective on CoastalSouth Bancshares from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CoastalSouth Bancshares in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

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.