CoastalSouth Bancshares, Inc.’s Lock-Up Period Will Expire on December 29th (NYSE:COSO)

CoastalSouth Bancshares’ (NYSE:COSO) lock-up period will expire on Monday, December 29th. CoastalSouth Bancshares had issued 2,035,000 shares in its public offering on July 2nd. The total size of the offering was $43,752,500 based on an initial share price of $21.50. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COSO. Wall Street Zen lowered CoastalSouth Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Zacks Research downgraded shares of CoastalSouth Bancshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings assumed coverage on shares of CoastalSouth Bancshares in a report on Saturday, October 25th. They set a “buy (b)” rating on the stock. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

CoastalSouth Bancshares Stock Up 0.1%

Shares of COSO opened at $24.45 on Friday. CoastalSouth Bancshares has a 12-month low of $19.24 and a 12-month high of $25.56. The stock has a 50-day moving average price of $22.46.

Institutional Investors Weigh In On CoastalSouth Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. Patriot Financial Partners GP II L.P. acquired a new position in CoastalSouth Bancshares in the 3rd quarter valued at approximately $15,686,000. North Reef Capital Management LP bought a new stake in shares of CoastalSouth Bancshares in the third quarter worth $4,812,000. Millennium Management LLC acquired a new stake in CoastalSouth Bancshares in the third quarter valued at $432,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in CoastalSouth Bancshares during the 3rd quarter worth $47,000. Finally, Azora Capital LP bought a new position in CoastalSouth Bancshares during the 3rd quarter worth $8,704,000.

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.