CoastalSouth Bancshares, Inc. (NYSE:COSO) Sees Significant Decrease in Short Interest

CoastalSouth Bancshares, Inc. (NYSE:COSO) saw a large drop in short interest in February. As of February 27th, there was short interest totaling 50,140 shares, a drop of 21.6% from the February 12th total of 63,953 shares. Based on an average daily volume of 63,484 shares, the short-interest ratio is presently 0.8 days. Currently, 0.4% of the shares of the stock are short sold. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 63,484 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analyst Weigh In

COSO has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of CoastalSouth Bancshares in a research report on Thursday, January 22nd. Piper Sandler lifted their target price on shares of CoastalSouth Bancshares from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Zacks Research upgraded shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Finally, Wall Street Zen raised shares of CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, CoastalSouth Bancshares has a consensus rating of “Moderate Buy” and an average target price of $29.00.

CoastalSouth Bancshares Stock Performance

Shares of NYSE COSO traded down $0.25 during trading on Tuesday, hitting $23.85. 76,729 shares of the company traded hands, compared to its average volume of 78,203. The firm has a market cap of $285.73 million and a price-to-earnings ratio of 14.11. The firm has a fifty day moving average of $24.37. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.84. CoastalSouth Bancshares has a fifty-two week low of $19.24 and a fifty-two week high of $26.29.

CoastalSouth Bancshares (NYSE:COSO) last issued its earnings results on Tuesday, January 20th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.04). The firm had revenue of $22.16 million during the quarter, compared to the consensus estimate of $22.30 million.

CoastalSouth Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. CoastalSouth Bancshares’s payout ratio is presently 11.83%.

Hedge Funds Weigh In On CoastalSouth Bancshares

A number of hedge funds have recently added to or reduced their stakes in COSO. Quadrature Capital Ltd bought a new position in shares of CoastalSouth Bancshares in the fourth quarter valued at approximately $241,000. North Reef Capital Management LP raised its position in CoastalSouth Bancshares by 19.6% in the 4th quarter. North Reef Capital Management LP now owns 263,900 shares of the company’s stock valued at $6,136,000 after buying an additional 43,281 shares during the last quarter. Barclays PLC lifted its stake in CoastalSouth Bancshares by 82.0% during the 4th quarter. Barclays PLC now owns 11,971 shares of the company’s stock valued at $278,000 after acquiring an additional 5,392 shares in the last quarter. Marshall Wace LLP purchased a new position in CoastalSouth Bancshares during the 4th quarter worth $1,220,000. Finally, Fourthstone LLC boosted its holdings in CoastalSouth Bancshares by 153.8% during the 4th 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.

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.