North Reef Capital Management LP Takes Position in CoastalSouth Bancshares, Inc. $COSO

North Reef Capital Management LP acquired a new position in shares of CoastalSouth Bancshares, Inc. (NYSE:COSO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 220,619 shares of the company’s stock, valued at approximately $4,812,000. North Reef Capital Management LP owned about 1.84% of CoastalSouth Bancshares at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of COSO. New York State Common Retirement Fund acquired a new stake in shares of CoastalSouth Bancshares during the 3rd quarter worth approximately $41,000. BNP Paribas Financial Markets purchased a new position in CoastalSouth Bancshares in the third quarter worth approximately $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in CoastalSouth Bancshares in the third quarter worth approximately $47,000. JPMorgan Chase & Co. acquired a new stake in CoastalSouth Bancshares during the third quarter worth $67,000. Finally, Rhumbline Advisers purchased a new stake in CoastalSouth Bancshares in the third quarter valued at $91,000.

Analysts Set New Price Targets

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

CoastalSouth Bancshares Stock Performance

NYSE:COSO opened at $24.23 on Tuesday. The company has a market capitalization of $290.22 million and a PE ratio of 14.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 0.93. CoastalSouth Bancshares, Inc. has a 1 year low of $19.24 and a 1 year high of $26.29. The stock has a fifty day simple moving average of $24.37.

CoastalSouth Bancshares (NYSE:COSO) last posted 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 company had revenue of $22.16 million for the quarter, compared to analyst estimates of $22.30 million.

CoastalSouth Bancshares Announces Dividend

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

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.