CoastalSouth Bancshares, Inc. (NYSE:COSO) Short Interest Down 36.1% in June

CoastalSouth Bancshares, Inc. (NYSE:COSOGet Free Report) saw a large decline in short interest in June. As of June 30th, there was short interest totaling 72,171 shares, a decline of 36.1% from the June 15th total of 112,928 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average trading volume of 236,373 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b+)” rating on shares of CoastalSouth Bancshares in a report on Friday, June 5th. Piper Sandler lifted their price target on CoastalSouth Bancshares from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, CoastalSouth Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

View Our Latest Stock Analysis on COSO

Insiders Place Their Bets

In other CoastalSouth Bancshares news, CFO Anthony P. Valduga sold 4,558 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $25.84, for a total transaction of $117,778.72. Following the transaction, the chief financial officer directly owned 86,115 shares of the company’s stock, valued at $2,225,211.60. This trade represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.11% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Patriot Financial Partners GP II L.P. purchased a new stake in shares of CoastalSouth Bancshares in the 3rd quarter valued at approximately $24,256,000. Fourthstone LLC boosted its position in shares of CoastalSouth Bancshares by 153.8% during the 4th quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock worth $22,315,000 after purchasing an additional 581,656 shares during the period. Alliancebernstein L.P. acquired a new stake in CoastalSouth Bancshares in the 3rd quarter valued at approximately $10,972,000. Mendon Capital Advisors Corp purchased a new stake in CoastalSouth Bancshares in the third quarter valued at approximately $7,243,000. Finally, Vanguard Group Inc. acquired a new position in CoastalSouth Bancshares during the third quarter worth $3,212,000.

CoastalSouth Bancshares Trading Down 1.2%

Shares of COSO opened at $27.04 on Friday. CoastalSouth Bancshares has a 12-month low of $19.24 and a 12-month high of $28.02. The firm has a market capitalization of $325.60 million and a P/E ratio of 12.29. The firm has a 50-day moving average price of $26.25 and a 200 day moving average price of $25.15.

CoastalSouth Bancshares (NYSE:COSOGet Free Report) last released its quarterly earnings data on Monday, April 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The business had revenue of $21.71 million during the quarter, compared to analyst estimates of $22.10 million. CoastalSouth Bancshares had a net margin of 18.91% and a return on equity of 10.66%. Equities research analysts predict that CoastalSouth Bancshares will post 2.42 earnings per share for the current fiscal year.

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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