Short Interest in CoastalSouth Bancshares, Inc. (NYSE:COSO) Decreases By 21.6%

CoastalSouth Bancshares, Inc. (NYSE:COSO) was the recipient of a large decrease in short interest in February. As of February 27th, there was short interest totaling 50,140 shares, a decrease of 21.6% from the February 12th total of 63,953 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 63,484 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 63,484 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.4% of the company’s shares are sold short.

Institutional Investors Weigh In On CoastalSouth Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Patriot Financial Partners GP II L.P. acquired a new position in shares of CoastalSouth Bancshares in the 3rd quarter valued at approximately $24,256,000. Fourthstone LLC grew its position in shares of CoastalSouth Bancshares by 153.8% during the fourth quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock worth $22,315,000 after buying an additional 581,656 shares in the last quarter. EJF Capital LLC bought a new stake in shares of CoastalSouth Bancshares in the third quarter worth $20,287,000. Alliancebernstein L.P. bought a new stake in shares of CoastalSouth Bancshares in the third quarter worth $10,972,000. Finally, Azora Capital LP acquired a new stake in CoastalSouth Bancshares in the third quarter valued at $8,704,000.

CoastalSouth Bancshares Stock Performance

Shares of COSO stock traded up $0.02 during trading hours on Friday, reaching $23.93. The company had a trading volume of 62,455 shares, compared to its average volume of 62,690. The stock has a market capitalization of $286.68 million and a P/E ratio of 14.16. 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 has a twelve month low of $19.24 and a twelve month high of $26.29. The company’s fifty day simple moving average is $24.35.

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

CoastalSouth Bancshares Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler raised their price target on shares of CoastalSouth Bancshares from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Wall Street Zen upgraded shares of CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings reissued a “buy (b)” rating on shares of CoastalSouth Bancshares in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.00.

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.