CoastalSouth Bancshares, Inc. $COSO Holdings Decreased by Azora Capital LP

Azora Capital LP decreased its holdings in shares of CoastalSouth Bancshares, Inc. (NYSE:COSO) by 22.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,940 shares of the company’s stock after selling 90,124 shares during the quarter. Azora Capital LP owned 2.58% of CoastalSouth Bancshares worth $7,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Patriot Financial Partners GP II L.P. purchased a new position in shares of CoastalSouth Bancshares during the third quarter valued at $24,256,000. Fourthstone LLC grew its holdings in shares of CoastalSouth Bancshares by 153.8% during the fourth quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock valued at $22,315,000 after buying an additional 581,656 shares in the last quarter. EJF Capital LLC purchased a new position in CoastalSouth Bancshares in the third quarter valued at about $20,287,000. Alliancebernstein L.P. purchased a new position in CoastalSouth Bancshares in the third quarter valued at about $10,972,000. Finally, Endeavour Capital Advisors Inc. acquired a new position in CoastalSouth Bancshares in the 3rd quarter worth about $7,349,000.

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 dated Wednesday, May 6th. The stock was sold at an average price of $25.84, for a total transaction of $117,778.72. Following the completion of the transaction, the chief financial officer owned 86,115 shares of the company’s stock, 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 accessible through this hyperlink. Corporate insiders own 15.11% of the company’s stock.

CoastalSouth Bancshares Price Performance

Shares of NYSE:COSO opened at $26.43 on Thursday. CoastalSouth Bancshares, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $27.51. The business has a 50-day moving average of $25.71 and a two-hundred day moving average of $24.68. The stock has a market capitalization of $318.16 million and a P/E ratio of 12.01.

CoastalSouth Bancshares (NYSE:COSO) last announced its quarterly earnings results on Monday, April 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). CoastalSouth Bancshares had a return on equity of 10.66% and a net margin of 18.91%.The company had revenue of $21.71 million during the quarter, compared to analyst estimates of $22.10 million. As a group, research analysts expect that CoastalSouth Bancshares, Inc. will post 2.42 EPS for the current fiscal year.

CoastalSouth Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, May 14th. CoastalSouth Bancshares’s payout ratio is currently 9.09%.

Wall Street Analyst Weigh In

COSO has been the subject of a number of recent research reports. Piper Sandler raised their price target on CoastalSouth Bancshares from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Wall Street Zen raised CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, 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 given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.00.

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.