Mendon Capital Advisors Corp Acquires 63,955 Shares of CoastalSouth Bancshares, Inc. $COSO

Mendon Capital Advisors Corp grew its holdings in CoastalSouth Bancshares, Inc. (NYSE:COSO) by 24.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 329,743 shares of the company’s stock after acquiring an additional 63,955 shares during the period. CoastalSouth Bancshares accounts for 2.4% of Mendon Capital Advisors Corp’s portfolio, making the stock its 13th largest holding. Mendon Capital Advisors Corp’s holdings in CoastalSouth Bancshares were worth $8,108,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of COSO. Patriot Financial Partners GP II L.P. purchased a new stake in CoastalSouth Bancshares in the 3rd quarter worth approximately $24,256,000. Fourthstone LLC boosted its stake in CoastalSouth Bancshares by 153.8% in the 4th quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock worth $22,315,000 after purchasing an additional 581,656 shares during the period. Alliancebernstein L.P. purchased a new stake in CoastalSouth Bancshares during the 3rd quarter valued at approximately $10,972,000. Vanguard Group Inc. bought a new stake in shares of CoastalSouth Bancshares during the third quarter valued at approximately $3,212,000. Finally, North Reef Capital Management LP lifted its holdings in shares of CoastalSouth Bancshares by 21.6% in the first quarter. North Reef Capital Management LP now owns 320,982 shares of the company’s stock worth $7,893,000 after buying an additional 57,082 shares in the last quarter.

CoastalSouth Bancshares Stock Performance

NYSE COSO opened at $27.08 on Monday. The business’s 50 day moving average price is $26.38 and its 200-day moving average price is $25.29. CoastalSouth Bancshares, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $28.02. The company has a market cap of $326.04 million and a P/E ratio of 12.20.

CoastalSouth Bancshares (NYSE:COSO) last issued its quarterly earnings results 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 company had revenue of $22.87 million during the quarter. CoastalSouth Bancshares had a return on equity of 10.69% and a net margin of 19.59%. As a group, equities analysts predict that CoastalSouth Bancshares, Inc. will post 2.42 EPS for the current year.

CoastalSouth Bancshares Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b+)” rating on shares of CoastalSouth Bancshares in a research report on Friday, June 5th. Piper Sandler upped 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. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Insider Activity

In other CoastalSouth Bancshares news, CFO Anthony P. Valduga sold 4,558 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $25.84, for a total transaction of $117,778.72. Following the completion of the transaction, the chief financial officer owned 86,115 shares in the company, valued at $2,225,211.60. The trade was a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.11% of the stock is owned by company insiders.

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.