CoastalSouth Bancshares (NYSE:COSO) Director Ernst Bruderer Sells 2,000 Shares of Stock

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 2,000 shares of CoastalSouth Bancshares stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $27.50, for a total value of $55,000.00. Following the completion of the sale, the director directly owned 43,131 shares in the company, valued at approximately $1,186,102.50. This represents a 4.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

CoastalSouth Bancshares Price Performance

NYSE:COSO opened at $27.43 on Thursday. CoastalSouth Bancshares, Inc. has a 52-week low of $20.80 and a 52-week high of $28.56. The company has a market cap of $327.79 million and a P/E ratio of 12.36. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.95. The stock’s 50-day simple moving average is $27.12 and its 200 day simple moving average is $25.88.

CoastalSouth Bancshares (NYSE:COSO) last released its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). The business had revenue of $22.87 million during the quarter. CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.57%. As a group, sell-side analysts forecast that CoastalSouth Bancshares, Inc. will post 2.37 EPS for the current fiscal year.

CoastalSouth Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, August 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. CoastalSouth Bancshares’s dividend payout ratio (DPR) is currently 9.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Mendon Capital Advisors Corp increased its holdings in shares of CoastalSouth Bancshares by 24.1% during the first quarter. Mendon Capital Advisors Corp now owns 329,743 shares of the company’s stock valued at $8,108,000 after acquiring an additional 63,955 shares in the last quarter. North Reef Capital Management LP grew its position in 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 period. Patriot Financial Partners GP II L.P. increased its stake in CoastalSouth Bancshares by 61.2% during the 1st 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 purchasing an additional 440,000 shares in the last quarter. HB Wealth Management LLC bought a new stake in CoastalSouth Bancshares during the 4th quarter valued at $888,000. Finally, Bank of New York Mellon Corp acquired a new position in CoastalSouth Bancshares during the second quarter worth $574,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $30.00.

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.