CoastalSouth Bancshares (NYSE:COSO) Director Sells 1,000 Shares

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 1,000 shares of CoastalSouth Bancshares stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $27.56, for a total transaction of $27,560.00. Following the transaction, the director directly owned 46,131 shares of the company’s stock, valued at approximately $1,271,370.36. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

CoastalSouth Bancshares Stock Performance

NYSE COSO traded up $0.29 during mid-day trading on Thursday, reaching $28.04. 66,012 shares of the stock were exchanged, compared to its average volume of 100,691. The company has a market capitalization of $335.09 million and a P/E ratio of 12.63. The business’s 50 day moving average is $26.89 and its 200-day moving average is $25.64. CoastalSouth Bancshares, Inc. has a 1 year low of $19.75 and a 1 year high of $28.56.

CoastalSouth Bancshares (NYSE:COSO) last released its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.69%. The firm had revenue of $22.87 million during the quarter. Equities analysts predict that CoastalSouth Bancshares, Inc. will post 2.37 earnings per share for the current fiscal year.

CoastalSouth Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. CoastalSouth Bancshares’s dividend payout ratio (DPR) is presently 9.01%.

Analysts Set New Price Targets

COSO has been the topic of several recent analyst reports. Weiss Ratings raised shares of CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Piper Sandler raised their price target on shares of CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $30.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in COSO. HB Wealth Management LLC boosted its stake in CoastalSouth Bancshares by 1.2% during the 1st 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. Bank of New York Mellon Corp grew 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 buying an additional 503 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of CoastalSouth Bancshares in the fourth quarter valued at about $40,000. Charles Schwab Investment Management Inc. raised its position in shares of CoastalSouth Bancshares by 11.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,362 shares of the company’s stock valued at $404,000 after buying an additional 1,780 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of CoastalSouth Bancshares in the third quarter worth about $47,000.

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.