Key Points
- Director Ernst Bruderer sold 2,000 CoastalSouth Bancshares shares at an average price of $27.43, generating $54,860 and reducing his holdings by 4.64% to 41,131 shares.
- CoastalSouth reported quarterly EPS of $0.59, slightly below the $0.61 analyst consensus, on revenue of $22.87 million. The company maintains a 19.59% net margin and recently paid a $0.05 quarterly dividend.
- Analyst sentiment remains positive, with a consensus “Buy” rating and a $30 price target; the stock recently traded near $27.37, within its 52-week range of $20.80 to $28.56.
CoastalSouth Bancshares, Inc. (NYSE:COSO - Get Free Report) Director Ernst Bruderer sold 2,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $27.43, for a total value of $54,860.00. Following the completion of the sale, the director owned 41,131 shares of the company's stock, valued at approximately $1,128,223.33. This trade represents a 4.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
CoastalSouth Bancshares Price Performance
Shares of COSO stock opened at $27.37 on Tuesday. The firm has a market cap of $327.07 million and a P/E ratio of 12.33. CoastalSouth Bancshares, Inc. has a fifty-two week low of $20.80 and a fifty-two week high of $28.56. The business's 50 day moving average price is $27.16 and its 200-day moving average price is $25.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.95.
CoastalSouth Bancshares (NYSE:COSO - Get Free Report) last announced its 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 business had revenue of $22.87 million for the quarter. CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.57%. On average, equities research analysts anticipate that CoastalSouth Bancshares, Inc. will post 2.37 earnings per share for the current year.
CoastalSouth Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 13th. CoastalSouth Bancshares's payout ratio is presently 9.01%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of CoastalSouth Bancshares from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $30.00.
View Our Latest Stock Analysis on COSO
Institutional Investors Weigh In On CoastalSouth Bancshares
Several hedge funds have recently made changes to their positions in COSO. California State Teachers Retirement System raised its holdings in CoastalSouth Bancshares by 499.6% in the second quarter. California State Teachers Retirement System now owns 3,034 shares of the company's stock worth $81,000 after purchasing an additional 2,528 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of CoastalSouth Bancshares during the 2nd quarter valued at $574,000. Bank of America Corp DE boosted its holdings in shares of CoastalSouth Bancshares by 306.7% during the 1st quarter. Bank of America Corp DE now owns 16,014 shares of the company's stock valued at $394,000 after buying an additional 12,076 shares in the last quarter. Mendon Capital Advisors Corp grew its position in shares of CoastalSouth Bancshares by 24.1% in the 1st 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 during the period. Finally, North Reef Capital Management LP grew its position in shares of CoastalSouth Bancshares by 21.6% in the 1st quarter. North Reef Capital Management LP now owns 320,982 shares of the company's stock worth $7,893,000 after buying an additional 57,082 shares during the period.
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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