CoastalSouth Bancshares (NYSE:COSO) Research Coverage Started at Brean Capital

Brean Capital began coverage on shares of CoastalSouth Bancshares (NYSE:COSO) in a report issued on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $33.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Weiss Ratings raised shares of CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 12th. Zacks Research lowered CoastalSouth Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.50.

CoastalSouth Bancshares Stock Up 0.6%

Shares of NYSE COSO opened at $26.67 on Tuesday. The company has a market capitalization of $318.75 million, a P/E ratio of 11.95 and a beta of 0.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.84. The company has a 50 day simple moving average of $27.19 and a 200-day simple moving average of $26.49. CoastalSouth Bancshares has a 1 year low of $20.80 and a 1 year high of $28.56.

CoastalSouth Bancshares (NYSE:COSO) last posted its earnings results 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 10.57% and a net margin of 19.59%. The business had revenue of $22.87 million for the quarter. On average, equities research analysts predict that CoastalSouth Bancshares will post 2.30 earnings per share for the current year.

CoastalSouth Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, August 13th. CoastalSouth Bancshares’s dividend payout ratio is currently 9.01%.

Insider Buying and Selling

In related news, Director Ernst Bruderer sold 2,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $27.43, for a total transaction of $54,860.00. Following the completion of the sale, the director owned 41,131 shares in the company, valued at $1,128,223.33. This represents a 4.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 5,000 shares of company stock valued at $137,420. 15.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CoastalSouth Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new position in shares of CoastalSouth Bancshares during the 2nd quarter worth approximately $294,000. WINTON GROUP Ltd purchased a new stake in shares of CoastalSouth Bancshares in the second quarter valued at approximately $314,000. 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 worth $394,000 after acquiring an additional 12,076 shares during the period. Bank of New York Mellon Corp grew its holdings in CoastalSouth Bancshares by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 20,591 shares of the company’s stock worth $506,000 after acquiring an additional 503 shares during the period. Finally, Sei Investments Co. grew its holdings in CoastalSouth Bancshares by 61.5% during the first quarter. Sei Investments Co. now owns 21,672 shares of the company’s stock worth $533,000 after acquiring an additional 8,249 shares during the period.

About CoastalSouth Bancshares

CoastalSouth Bancshares, Inc is a bank holding company that operates through its wholly owned subsidiary, Coastal States Bank. The company provides community banking services to individuals, families, businesses and nonprofit organizations.

Coastal States Bank offers a range of deposit products, commercial and consumer lending, mortgage lending, cash-management and treasury services, online and mobile banking, and other traditional banking solutions. Its lending activities include commercial real estate, business, residential mortgage and consumer loans.

Founded in 2003, CoastalSouth Bancshares serves communities in coastal South Carolina and Georgia, including the Hilton Head Island and Savannah markets.