Short Interest in CoastalSouth Bancshares, Inc. (NYSE:COSO) Decreases By 21.6%

CoastalSouth Bancshares, Inc. (NYSE:COSO) saw a large drop in short interest in February. As of February 27th, there was short interest totaling 50,140 shares, a drop of 21.6% from the February 12th total of 63,953 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 63,484 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 63,484 shares, the short-interest ratio is presently 0.8 days. Currently, 0.4% of the company’s stock are sold short.

CoastalSouth Bancshares Stock Performance

Shares of CoastalSouth Bancshares stock traded up $0.02 during trading hours on Friday, reaching $23.93. The company’s stock had a trading volume of 62,455 shares, compared to its average volume of 62,690. CoastalSouth Bancshares has a one year low of $19.24 and a one year high of $26.29. The business’s 50 day moving average price is $24.35. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $286.68 million and a PE ratio of 14.16.

CoastalSouth Bancshares (NYSE:COSO) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.04). The company had revenue of $22.16 million for the quarter, compared to analyst estimates of $22.30 million.

CoastalSouth Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, February 12th. CoastalSouth Bancshares’s payout ratio is presently 11.83%.

Institutional Trading of CoastalSouth Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in COSO. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of CoastalSouth Bancshares in the 4th quarter worth approximately $40,000. New York State Common Retirement Fund bought a new position in CoastalSouth Bancshares during the 3rd quarter worth $41,000. BNP Paribas Financial Markets bought a new position in CoastalSouth Bancshares during the 3rd quarter worth $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in CoastalSouth Bancshares in the third quarter worth $47,000. Finally, JPMorgan Chase & Co. acquired a new stake in CoastalSouth Bancshares in the third quarter worth $67,000.

Analyst Ratings Changes

COSO has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of CoastalSouth Bancshares in a research note on Thursday, January 22nd. Zacks Research raised CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Piper Sandler upped their price objective on CoastalSouth Bancshares from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen raised CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

CoastalSouth Bancshares Company Profile

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.