Patriot Financial Partners GP II L.P. Takes Position in CoastalSouth Bancshares, Inc. $COSO

Patriot Financial Partners GP II L.P. bought a new position in shares of CoastalSouth Bancshares, Inc. (NYSE:COSO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 719,211 shares of the company’s stock, valued at approximately $15,686,000. CoastalSouth Bancshares comprises about 5.0% of Patriot Financial Partners GP II L.P.’s portfolio, making the stock its 8th largest holding. Patriot Financial Partners GP II L.P. owned 6.00% of CoastalSouth Bancshares at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Endeavour Capital Advisors Inc. acquired a new stake in CoastalSouth Bancshares during the 3rd quarter worth $7,349,000. Bleakley Financial Group LLC acquired a new position in CoastalSouth Bancshares in the third quarter valued at $1,921,000. KLCM Advisors Inc. increased its stake in CoastalSouth Bancshares by 144.2% in the third quarter. KLCM Advisors Inc. now owns 90,474 shares of the company’s stock valued at $1,973,000 after purchasing an additional 53,428 shares during the period. North Reef Capital Management LP purchased a new stake in shares of CoastalSouth Bancshares in the third quarter valued at about $4,812,000. Finally, EJF Capital LLC purchased a new stake in shares of CoastalSouth Bancshares in the third quarter valued at about $20,287,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on COSO. Weiss Ratings reissued a “buy (b)” rating on shares of CoastalSouth Bancshares in a report on Thursday, January 22nd. Zacks Research raised CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a research note on Friday, January 2nd. Wall Street Zen raised CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Piper Sandler boosted their target price on CoastalSouth Bancshares from $27.00 to $29.00 and gave the company 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

CoastalSouth Bancshares Stock Down 1.5%

NYSE COSO opened at $23.49 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $278.37 million and a PE ratio of 13.90. CoastalSouth Bancshares, Inc. has a 52-week low of $19.24 and a 52-week high of $26.29. The business’s 50-day moving average price is $24.40.

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

CoastalSouth Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were paid 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 0.9%. CoastalSouth Bancshares’s payout ratio is 11.83%.

CoastalSouth Bancshares 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.