North Reef Capital Management LP Makes New $4.81 Million Investment in CoastalSouth Bancshares, Inc. $COSO

North Reef Capital Management LP purchased a new stake in shares of CoastalSouth Bancshares, Inc. (NYSE:COSO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 220,619 shares of the company’s stock, valued at approximately $4,812,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund acquired a new stake in shares of CoastalSouth Bancshares in the third quarter valued at $41,000. BNP Paribas Financial Markets acquired a new position in CoastalSouth Bancshares during the third quarter worth about $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in CoastalSouth Bancshares during the third quarter worth about $47,000. JPMorgan Chase & Co. bought a new stake in CoastalSouth Bancshares in the third quarter worth about $67,000. Finally, Rhumbline Advisers bought a new stake in CoastalSouth Bancshares in the third quarter worth about $91,000.

CoastalSouth Bancshares Trading Up 1.4%

COSO opened at $24.23 on Tuesday. The company has a 50 day simple moving average of $24.37. The company has a market capitalization of $290.22 million and a PE ratio of 14.33. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.12. CoastalSouth Bancshares, Inc. has a 1-year low of $19.24 and a 1-year high of $26.29.

CoastalSouth Bancshares (NYSE:COSO) last announced its earnings results on Tuesday, January 20th. The company reported $0.58 earnings per share (EPS) 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 Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COSO shares. Zacks Research upgraded shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a research report on Friday, January 2nd. Piper Sandler increased their target price on shares of CoastalSouth Bancshares from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Weiss Ratings restated a “buy (b)” rating on shares of CoastalSouth Bancshares in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, CoastalSouth Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target 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.