CoastalSouth Bancshares, Inc. (NYSE:COSO – Get Free Report) Director Ernst Bruderer sold 6,000 shares of the firm’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $27.92, for a total value of $167,520.00. Following the sale, the director owned 35,131 shares in the company, valued at $980,857.52. This trade represents a 14.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
CoastalSouth Bancshares Price Performance
Shares of NYSE:COSO opened at $27.86 on Thursday. The company has a market cap of $332.99 million, a P/E ratio of 11.66 and a beta of 0.07. 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, Inc. has a 52 week low of $20.80 and a 52 week high of $28.56. The business has a fifty day simple moving average of $27.11 and a 200-day simple moving average of $25.97.
CoastalSouth Bancshares (NYSE:COSO – Get Free Report) last released its earnings results on Monday, October 19th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.59 by $0.12. CoastalSouth Bancshares had a return on equity of 11.20% and a net margin of 20.56%. The firm had revenue of $24.86 million during the quarter. Equities research analysts forecast that CoastalSouth Bancshares, Inc. will post 2.33 EPS for the current year.
CoastalSouth Bancshares Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, November 10th will be issued a $0.06 dividend. This is a positive change from CoastalSouth Bancshares’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, November 10th. This represents a $0.24 annualized dividend and a yield of 0.9%. CoastalSouth Bancshares’s dividend payout ratio (DPR) is presently 8.37%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Brean Capital initiated coverage on shares of CoastalSouth Bancshares in a report on Tuesday, October 13th. They set a “buy” rating and a $33.00 price objective on the stock. Zacks Research raised shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a research report on Friday, October 23rd. Finally, Weiss Ratings upgraded shares of CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, CoastalSouth Bancshares presently has an average rating of “Buy” and an average target price of $31.50.
View Our Latest Report on CoastalSouth Bancshares
Institutional Investors Weigh In On CoastalSouth Bancshares
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HB Wealth Management LLC raised its holdings in shares of CoastalSouth Bancshares by 1.2% in the 1st quarter. HB Wealth Management LLC now owns 38,643 shares of the company’s stock worth $950,000 after purchasing an additional 459 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of CoastalSouth Bancshares by 2.5% in the 1st quarter. Bank of New York Mellon Corp now owns 20,591 shares of the company’s stock valued at $506,000 after purchasing an additional 503 shares in the last quarter. Sei Investments Co. grew its holdings in shares of CoastalSouth Bancshares by 61.5% during the 1st quarter. Sei Investments Co. now owns 21,672 shares of the company’s stock worth $533,000 after purchasing an additional 8,249 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of CoastalSouth Bancshares during the 2nd quarter worth about $294,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of CoastalSouth Bancshares during the 2nd quarter worth about $314,000.
About CoastalSouth Bancshares
CoastalSouth Bancshares, Inc is a bank holding company that operates through its wholly owned subsidiary, Coastal States Bank. The company provides banking services to individuals, businesses and commercial clients, with a focus on relationship-based community banking.
Its products and services include deposit accounts, commercial and consumer lending, residential mortgage lending, treasury management and other banking solutions. Coastal States Bank serves customers through branch locations and digital banking channels.
The company’s operations are concentrated in the southeastern United States, including markets in coastal Georgia and South Carolina.
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