Ernst Bruderer Sells 2,000 Shares of CoastalSouth Bancshares (NYSE:COSO) Stock

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $27.50, for a total transaction of $55,000.00. Following the transaction, the director directly owned 43,131 shares in the company, valued at approximately $1,186,102.50. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

CoastalSouth Bancshares Price Performance

Shares of COSO stock opened at $27.28 on Friday. The firm has a fifty day simple moving average of $27.13 and a 200-day simple moving average of $25.89. The company has a market capitalization of $325.95 million and a PE ratio of 12.29. CoastalSouth Bancshares, Inc. has a twelve month low of $20.80 and a twelve month high of $28.56. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.28.

CoastalSouth Bancshares (NYSE:COSO) last released its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02). CoastalSouth Bancshares had a return on equity of 10.57% and a net margin of 19.59%.The firm had revenue of $22.87 million for the quarter. Equities research analysts anticipate that CoastalSouth Bancshares, Inc. will post 2.37 earnings per share for the current fiscal year.

CoastalSouth Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, August 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. CoastalSouth Bancshares’s dividend payout ratio (DPR) is currently 9.01%.

Institutional Trading of CoastalSouth Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in COSO. Patriot Financial Partners GP II L.P. boosted its stake in CoastalSouth Bancshares by 61.2% during the 1st quarter. Patriot Financial Partners GP II L.P. now owns 1,159,211 shares of the company’s stock valued at $28,505,000 after acquiring an additional 440,000 shares during the last quarter. Fourthstone LLC increased its position in shares of CoastalSouth Bancshares by 153.8% in the 4th quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock worth $22,315,000 after purchasing an additional 581,656 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of CoastalSouth Bancshares in the 3rd quarter worth about $10,972,000. Mendon Capital Advisors Corp bought a new stake in shares of CoastalSouth Bancshares in the 3rd quarter worth about $7,243,000. Finally, North Reef Capital Management LP raised its stake in shares of CoastalSouth Bancshares by 21.6% in the 1st quarter. North Reef Capital Management LP now owns 320,982 shares of the company’s stock valued at $7,893,000 after purchasing an additional 57,082 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, CoastalSouth Bancshares presently has an average rating of “Buy” and a consensus price target 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.