CoastalSouth Bancshares (NYSE:COSO) Announces Earnings Results

CoastalSouth Bancshares (NYSE:COSO) issued its quarterly earnings data on Monday. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02), Zacks reports. CoastalSouth Bancshares had a return on equity of 10.66% and a net margin of 18.91%.The business had revenue of $22.87 million for the quarter.

CoastalSouth Bancshares Stock Performance

COSO opened at $26.77 on Tuesday. The company has a market cap of $322.25 million and a PE ratio of 12.17. The stock has a 50-day moving average of $26.28 and a 200-day moving average of $25.18. CoastalSouth Bancshares has a 52-week low of $19.24 and a 52-week high of $28.02.

CoastalSouth Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 13th. CoastalSouth Bancshares’s dividend payout ratio is 9.09%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on COSO shares. Piper Sandler increased their target price on CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of CoastalSouth Bancshares in a research note on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, CoastalSouth Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Insider Buying and Selling at CoastalSouth Bancshares

In related news, CFO Anthony P. Valduga sold 4,558 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $25.84, for a total value of $117,778.72. Following the completion of the sale, the chief financial officer directly owned 86,115 shares in the company, valued at approximately $2,225,211.60. The trade was a 5.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 15.11% of the company’s stock.

Institutional Trading of CoastalSouth Bancshares

Several large investors have recently modified their holdings of the company. Patriot Financial Partners GP II L.P. acquired a new position in CoastalSouth Bancshares during the 3rd quarter worth $24,256,000. Fourthstone LLC boosted its stake in CoastalSouth Bancshares by 153.8% during the 4th quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock valued at $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 bought a new position in CoastalSouth Bancshares in the 3rd quarter worth approximately $7,243,000. Finally, North Reef Capital Management LP lifted its holdings in shares of CoastalSouth Bancshares by 19.6% during the fourth quarter. North Reef Capital Management LP now owns 263,900 shares of the company’s stock worth $6,136,000 after buying an additional 43,281 shares during the last quarter.

About CoastalSouth Bancshares

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.