CoastalSouth Bancshares (NYSE:COSO) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of CoastalSouth Bancshares (NYSE:COSO) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks reports.

Separately, Weiss Ratings upgraded shares of CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

CoastalSouth Bancshares Stock Up 0.3%

NYSE COSO opened at $26.65 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.95. The company has a market capitalization of $318.49 million, a P/E ratio of 12.01 and a beta of -0.01. CoastalSouth Bancshares has a one year low of $20.80 and a one year high of $28.56. The stock has a 50 day moving average price of $27.31 and a 200-day moving average price of $26.21.

CoastalSouth Bancshares (NYSE:COSO) last posted its earnings results on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.57%. The business had revenue of $22.87 million during the quarter. As a group, equities analysts predict that CoastalSouth Bancshares will post 2.33 EPS for the current fiscal year.

CoastalSouth Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, August 13th. CoastalSouth Bancshares’s dividend payout ratio (DPR) is presently 9.01%.

Insider Activity at CoastalSouth Bancshares

In other news, Director Ernst Bruderer sold 2,000 shares of CoastalSouth Bancshares stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $27.43, for a total value of $54,860.00. Following the completion of the transaction, the director owned 41,131 shares in the company, valued at approximately $1,128,223.33. The trade was a 4.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 5,000 shares of company stock valued at $137,420. 15.11% of the stock is currently owned by insiders.

Institutional Trading of CoastalSouth Bancshares

A number of institutional investors have recently bought and sold shares of COSO. WINTON GROUP Ltd purchased a new position in CoastalSouth Bancshares during the second quarter worth $314,000. Squarepoint Ops LLC purchased a new stake in shares of CoastalSouth Bancshares in the second quarter valued at $294,000. Bank of New York Mellon Corp bought a new stake in shares of CoastalSouth Bancshares in the 2nd quarter worth about $574,000. Bank of America Corp DE lifted its holdings in shares of CoastalSouth Bancshares by 306.7% in the 1st quarter. Bank of America Corp DE now owns 16,014 shares of the company’s stock worth $394,000 after acquiring an additional 12,076 shares during the last quarter. Finally, Mendon Capital Advisors Corp boosted its stake in shares of CoastalSouth Bancshares by 24.1% during the 1st quarter. Mendon Capital Advisors Corp now owns 329,743 shares of the company’s stock worth $8,108,000 after purchasing an additional 63,955 shares during the period.

CoastalSouth Bancshares Company Profile

CoastalSouth Bancshares, Inc is a bank holding company that operates through its wholly owned subsidiary, Coastal States Bank. The company provides community banking services to individuals, families, businesses and organizations.

Coastal States Bank offers deposit accounts, commercial and residential real estate lending, business loans, consumer loans, treasury management, online and mobile banking, and other traditional financial services. Its activities are focused primarily on serving small and middle-market businesses, professionals and retail customers.

The company is based in Savannah, Georgia, and serves communities in coastal Georgia and South Carolina through its banking offices and digital channels.