Wall Street Zen Downgrades CoastalSouth Bancshares (NYSE:COSO) to Sell

CoastalSouth Bancshares (NYSE:COSO) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other analysts have also issued reports on the company. Zacks Research upgraded CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a research note on Friday, January 2nd. Piper Sandler lifted their target price on CoastalSouth Bancshares from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of CoastalSouth Bancshares in a report on Thursday, January 22nd. 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, the stock has an average rating of “Moderate Buy” and an average price target of $29.00.

CoastalSouth Bancshares Price Performance

Shares of COSO stock opened at $24.65 on Friday. The company has a fifty day moving average price of $24.25. CoastalSouth Bancshares has a one year low of $19.24 and a one year high of $26.29. The firm has a market capitalization of $295.31 million and a PE ratio of 14.59. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in CoastalSouth Bancshares during the 4th quarter worth $241,000. North Reef Capital Management LP grew its stake in shares of CoastalSouth Bancshares by 19.6% in the fourth quarter. North Reef Capital Management LP now owns 263,900 shares of the company’s stock valued at $6,136,000 after acquiring an additional 43,281 shares in the last quarter. Barclays PLC increased its position in CoastalSouth Bancshares by 82.0% during the fourth quarter. Barclays PLC now owns 11,971 shares of the company’s stock worth $278,000 after acquiring an additional 5,392 shares during the period. Marshall Wace LLP bought a new position in CoastalSouth Bancshares during the fourth quarter worth about $1,220,000. Finally, Fourthstone LLC raised its stake in CoastalSouth Bancshares by 153.8% in the 4th quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock worth $22,315,000 after purchasing an additional 581,656 shares in the last quarter.

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.