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

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 1,000 shares of CoastalSouth Bancshares stock in a transaction 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 sale, the director directly owned 46,131 shares of the company’s stock, valued at $1,271,370.36. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

CoastalSouth Bancshares Trading Up 1.0%

NYSE COSO opened at $28.04 on Friday. CoastalSouth Bancshares, Inc. has a 1-year low of $19.75 and a 1-year high of $28.56. The company has a market capitalization of $335.09 million and a PE ratio of 12.63. The firm’s fifty day simple moving average is $26.93 and its 200-day simple moving average is $25.67.

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

CoastalSouth Bancshares Dividend Announcement

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

Hedge Funds Weigh In On CoastalSouth Bancshares

Several institutional investors have recently bought and sold shares of the stock. Mendon Capital Advisors Corp increased its holdings in shares of CoastalSouth Bancshares by 24.1% during the 1st 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 during the last quarter. North Reef Capital Management LP lifted its holdings 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 worth $7,893,000 after purchasing an additional 57,082 shares during the last quarter. Patriot Financial Partners GP II L.P. lifted its holdings in CoastalSouth Bancshares by 61.2% in the 1st quarter. Patriot Financial Partners GP II L.P. now owns 1,159,211 shares of the company’s stock worth $28,505,000 after purchasing an additional 440,000 shares during the last quarter. HB Wealth Management LLC bought a new stake in CoastalSouth Bancshares during the fourth quarter worth approximately $888,000. Finally, Bank of America Corp DE grew its holdings in CoastalSouth Bancshares by 306.7% during the first quarter. Bank of America Corp DE now owns 16,014 shares of the company’s stock valued at $394,000 after purchasing an additional 12,076 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on COSO shares. Piper Sandler increased their price objective on CoastalSouth Bancshares from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. One equities research 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’s stock. According to MarketBeat.com, the stock currently has a consensus 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.