Key Points
- Director Ernst Bruderer sold 1,000 CoastalSouth Bancshares shares at an average price of $27.56, generating $27,560. He retains 46,131 shares, representing a 2.12% reduction in his position.
- CoastalSouth reported quarterly EPS of $0.59, missing the $0.61 analyst consensus, while revenue reached $22.87 million. The stock recently traded at $28.04, near its 52-week high of $28.56.
- The company declared a quarterly dividend of $0.05 per share, equivalent to a 0.7% yield, and analysts maintain a consensus “Buy” rating with a $30 price target.
CoastalSouth Bancshares, Inc. (NYSE:COSO - Get Free Report) Director Ernst Bruderer sold 1,000 shares of CoastalSouth Bancshares stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $27.56, for a total transaction of $27,560.00. Following the completion of the transaction, the director owned 46,131 shares in the company, valued at $1,271,370.36. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
CoastalSouth Bancshares Price Performance
CoastalSouth Bancshares stock opened at $28.04 on Friday. The firm has a market cap of $335.09 million and a price-to-earnings ratio of 12.63. CoastalSouth Bancshares, Inc. has a fifty-two week low of $19.75 and a fifty-two week high of $28.56. The firm has a fifty day moving average price of $26.93 and a two-hundred day moving average price of $25.67.
CoastalSouth Bancshares (NYSE:COSO - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.02). The firm had revenue of $22.87 million for the quarter. CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.69%. As a group, sell-side analysts expect that CoastalSouth Bancshares, Inc. will post 2.37 earnings per share for the current year.
CoastalSouth Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. CoastalSouth Bancshares's payout ratio is currently 9.01%.
Institutional Investors Weigh In On CoastalSouth Bancshares
Hedge funds have recently made changes to their positions in the stock. Mendon Capital Advisors Corp grew its position in CoastalSouth Bancshares by 24.1% during the first quarter. Mendon Capital Advisors Corp now owns 329,743 shares of the company's stock worth $8,108,000 after buying an additional 63,955 shares in the last quarter. North Reef Capital Management LP increased its stake in CoastalSouth Bancshares by 21.6% during the first quarter. North Reef Capital Management LP now owns 320,982 shares of the company's stock valued at $7,893,000 after acquiring an additional 57,082 shares during the period. Patriot Financial Partners GP II L.P. increased its stake in CoastalSouth Bancshares by 61.2% during the first quarter. Patriot Financial Partners GP II L.P. now owns 1,159,211 shares of the company's stock valued at $28,505,000 after acquiring an additional 440,000 shares during the period. HB Wealth Management LLC acquired a new position in CoastalSouth Bancshares in the 4th quarter valued at approximately $888,000. Finally, Bank of America Corp DE raised its holdings in CoastalSouth Bancshares by 306.7% in the 1st quarter. Bank of America Corp DE now owns 16,014 shares of the company's stock valued at $394,000 after acquiring an additional 12,076 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research firms have issued reports on COSO. Weiss Ratings raised CoastalSouth Bancshares from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday. Piper Sandler upped their price target on CoastalSouth Bancshares from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $30.00.
Get Our Latest Analysis on COSO
About CoastalSouth Bancshares
(
Get Free Report)
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.
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