CoastalSouth Bancshares (NYSE:COSO) Stock Price Up 0.4% – What’s Next?

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. Approximately 57,880 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 172,488 shares. The stock had previously closed at $26.30.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on COSO shares. Weiss Ratings restated a “buy (b+)” rating on shares of CoastalSouth Bancshares in a report on Friday, June 5th. Piper Sandler increased their target price on CoastalSouth Bancshares from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, CoastalSouth Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

CoastalSouth Bancshares Stock Up 0.4%

The business’s fifty day moving average is $26.13 and its 200-day moving average is $25.06. The stock has a market capitalization of $317.84 million and a PE ratio of 12.00.

CoastalSouth Bancshares (NYSE:COSO) last issued its quarterly earnings results on Monday, April 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). The company had revenue of $21.71 million for the quarter, compared to analyst estimates of $22.10 million. CoastalSouth Bancshares had a return on equity of 10.66% and a net margin of 18.91%. As a group, sell-side analysts anticipate that CoastalSouth Bancshares, Inc. will post 2.42 EPS for the current fiscal year.

CoastalSouth Bancshares Announces Dividend

The company also recently disclosed 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, May 14th. CoastalSouth Bancshares’s dividend payout ratio is presently 9.09%.

Insiders Place Their Bets

In related news, CFO Anthony P. Valduga sold 4,558 shares of CoastalSouth Bancshares 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 transaction, the chief financial officer owned 86,115 shares in the company, valued at approximately $2,225,211.60. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.11% of the company’s stock.

Hedge Funds Weigh In On CoastalSouth Bancshares

Large investors have recently modified their holdings of the company. Patriot Financial Partners GP II L.P. raised its holdings in CoastalSouth Bancshares by 61.2% in the first quarter. Patriot Financial Partners GP II L.P. now owns 1,159,211 shares of the company’s stock valued at $28,505,000 after buying an additional 440,000 shares during the period. Fourthstone LLC increased its position in shares of CoastalSouth Bancshares by 153.8% during the fourth quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock worth $22,315,000 after acquiring an additional 581,656 shares during the last quarter. Alliancebernstein L.P. acquired a new position in CoastalSouth Bancshares in the third quarter worth about $10,972,000. Azora Capital LP acquired a new stake in CoastalSouth Bancshares during the third quarter valued at approximately $8,704,000. Finally, Mendon Capital Advisors Corp acquired a new stake in shares of CoastalSouth Bancshares during the third quarter worth $7,243,000.

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.