Ernst Bruderer Sells 2,000 Shares of CoastalSouth Bancshares (NYSE:COSO) Stock

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $27.50, for a total transaction of $55,000.00. Following the completion of the transaction, the director owned 43,131 shares in the company, valued at approximately $1,186,102.50. This represents a 4.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

CoastalSouth Bancshares Stock Down 0.4%

Shares of NYSE:COSO traded down $0.11 during trading on Wednesday, reaching $27.43. 86,725 shares of the company traded hands, compared to its average volume of 100,679. The firm has a fifty day simple moving average of $27.10 and a 200 day simple moving average of $25.86. The firm has a market cap of $327.79 million and a P/E ratio of 12.36. CoastalSouth Bancshares, Inc. has a 1-year low of $20.80 and a 1-year high of $28.56. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.28.

CoastalSouth Bancshares (NYSE:COSO) last posted its quarterly earnings results on Monday, July 20th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.02). CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.57%. The company had revenue of $22.87 million for the quarter. Analysts anticipate that CoastalSouth Bancshares, Inc. will post 2.37 earnings per share for the current fiscal year.

CoastalSouth Bancshares Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers acquired a new stake in shares of CoastalSouth Bancshares in the 3rd quarter valued at $91,000. JPMorgan Chase & Co. acquired a new position in CoastalSouth Bancshares during the third quarter worth $67,000. Vanguard Group Inc. bought a new position in CoastalSouth Bancshares during the third quarter valued at about $3,212,000. BNP Paribas Financial Markets bought a new position in CoastalSouth Bancshares during the third quarter valued at about $47,000. Finally, Sei Investments Co. acquired a new stake in shares of CoastalSouth Bancshares in the third quarter worth about $211,000.

Analyst Upgrades and Downgrades

COSO has been the topic of several research reports. Piper Sandler upped their target price on CoastalSouth Bancshares from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $30.00.

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.