Key Points
- Director Ernst Bruderer sold 2,000 CoastalSouth Bancshares shares at an average price of $27.50, generating $55,000 and reducing his direct ownership by 4.43% to 43,131 shares.
- CoastalSouth reported quarterly EPS of $0.59, missing the $0.61 analyst consensus, while revenue reached $22.87 million. Shares opened at $27.43, near their 12-month high of $28.56.
- The company declared a quarterly dividend of $0.05 per share, equal to a 0.7% annualized yield. Analysts maintain a consensus “Buy” rating with a $30 price target, and Weiss Ratings upgraded the stock to “buy (a-).”
CoastalSouth Bancshares, Inc. (NYSE:COSO - Get Free Report) Director Ernst Bruderer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $27.50, for a total value of $55,000.00. Following the completion of the sale, the director directly owned 43,131 shares of the company's stock, valued at approximately $1,186,102.50. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
CoastalSouth Bancshares Stock Down 0.4%
Shares of NYSE:COSO opened at $27.43 on Thursday. The business's 50 day moving average is $27.12 and its 200 day moving average is $25.88. CoastalSouth Bancshares, Inc. has a 12-month low of $20.80 and a 12-month high of $28.56. The stock has a market cap of $327.79 million and a price-to-earnings ratio of 12.36. 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 - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.02). The company had revenue of $22.87 million during the quarter. CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.57%. On average, sell-side analysts forecast that CoastalSouth Bancshares, Inc. will post 2.37 earnings per share for the current fiscal year.
CoastalSouth Bancshares Announces Dividend
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 given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. CoastalSouth Bancshares's dividend payout ratio (DPR) is currently 9.01%.
Institutional Investors Weigh In On CoastalSouth Bancshares
A number of institutional investors and hedge funds have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey bought a new position in shares of CoastalSouth Bancshares in the fourth quarter valued at approximately $40,000. BNP Paribas Financial Markets purchased a new position in CoastalSouth Bancshares during the third quarter worth about $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in CoastalSouth Bancshares in the 3rd quarter worth about $47,000. JPMorgan Chase & Co. purchased a new stake in shares of CoastalSouth Bancshares in the 3rd quarter valued at about $67,000. Finally, California State Teachers Retirement System boosted its position in shares of CoastalSouth Bancshares by 499.6% during the 2nd quarter. California State Teachers Retirement System now owns 3,034 shares of the company's stock valued at $81,000 after acquiring an additional 2,528 shares during the last quarter.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised 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 issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, CoastalSouth Bancshares presently has a consensus rating of "Buy" and a consensus price target of $30.00.
View Our Latest Research Report 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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