CoastalSouth Bancshares (NYSE:COSO) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of CoastalSouth Bancshares (NYSE:COSO) from a sell rating to a hold rating in a research report released on Sunday.

Several other research analysts also recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of CoastalSouth Bancshares in a research note on Thursday, January 22nd. Zacks Research raised shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Finally, Piper Sandler upped their target price on shares of CoastalSouth Bancshares from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.00.

CoastalSouth Bancshares Price Performance

Shares of CoastalSouth Bancshares stock opened at $24.02 on Friday. The firm’s 50 day moving average price is $24.27. CoastalSouth Bancshares has a 12 month low of $19.24 and a 12 month high of $26.29. The firm has a market capitalization of $287.76 million and a PE ratio of 14.21. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

CoastalSouth Bancshares (NYSE:COSO) last released its earnings results 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 during the quarter, compared to analyst estimates of $22.30 million.

CoastalSouth Bancshares Announces Dividend

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

Hedge Funds Weigh In On CoastalSouth Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COSO. Patriot Financial Partners GP II L.P. acquired a new stake in shares of CoastalSouth Bancshares in the 3rd quarter worth $24,256,000. EJF Capital LLC acquired a new position in shares of CoastalSouth Bancshares during the 3rd quarter valued at about $20,287,000. Fourthstone LLC boosted its position in shares of 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 acquiring an additional 581,656 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in shares of CoastalSouth Bancshares in the third quarter valued at about $10,972,000. Finally, Azora Capital LP purchased a new stake in shares of CoastalSouth Bancshares in the third quarter valued at about $8,704,000.

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.