CoastalSouth Bancshares, Inc. (NYSE:COSO) Short Interest Down 36.1% in June

CoastalSouth Bancshares, Inc. (NYSE:COSO) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 72,171 shares, a decline of 36.1% from the June 15th total of 112,928 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 236,373 shares, the days-to-cover ratio is currently 0.3 days.

CoastalSouth Bancshares Stock Down 1.2%

COSO opened at $27.04 on Friday. CoastalSouth Bancshares has a twelve month low of $19.24 and a twelve month high of $28.02. The company has a 50-day simple moving average of $26.25 and a 200 day simple moving average of $25.15. The stock has a market capitalization of $325.60 million and a price-to-earnings ratio of 12.29.

CoastalSouth Bancshares (NYSE:COSO) last released its earnings results on Monday, April 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). The firm had revenue of $21.71 million during the quarter, compared to the consensus estimate of $22.10 million. CoastalSouth Bancshares had a net margin of 18.91% and a return on equity of 10.66%. Sell-side analysts anticipate that CoastalSouth Bancshares will post 2.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on COSO shares. Piper Sandler lifted their price target on shares of CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings reissued a “buy (b+)” rating on shares of CoastalSouth Bancshares in a research report on Friday, June 5th. Two investment analysts have rated the stock with 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 “Moderate Buy” and an average target price of $30.00.

Insider Activity at CoastalSouth Bancshares

In related news, CFO Anthony P. Valduga sold 4,558 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $25.84, for a total value of $117,778.72. Following the transaction, the chief financial officer directly owned 86,115 shares in the company, valued at approximately $2,225,211.60. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in COSO. Police & Firemen s Retirement System of New Jersey acquired a new position in CoastalSouth Bancshares during the fourth quarter valued at approximately $40,000. BNP Paribas Financial Markets acquired a new stake in shares of CoastalSouth Bancshares in the 3rd quarter valued at $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of CoastalSouth Bancshares in the 3rd quarter valued at $47,000. JPMorgan Chase & Co. bought a new position in shares of CoastalSouth Bancshares in the 3rd quarter valued at $67,000. Finally, Rhumbline Advisers bought a new position in shares of CoastalSouth Bancshares in the 3rd quarter valued at $91,000.

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.