CoastalSouth Bancshares (NYSE:COSO) Rating Lowered to Strong Sell at Zacks Research

CoastalSouth Bancshares (NYSE:COSO) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday, Zacks reports.

Separately, Weiss Ratings raised shares of CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CoastalSouth Bancshares has an average rating of “Moderate Buy” and a consensus price target of $30.00.

CoastalSouth Bancshares Stock Performance

Shares of NYSE COSO opened at $26.65 on Thursday. The company has a market capitalization of $318.49 million, a PE ratio of 12.01 and a beta of -0.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.95. The company’s fifty day moving average price is $27.31 and its 200 day moving average price is $26.21. CoastalSouth Bancshares has a 1 year low of $20.80 and a 1 year high of $28.56.

CoastalSouth Bancshares (NYSE:COSO) last released its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). The firm had revenue of $22.87 million during the quarter. CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.57%. On average, research analysts predict that CoastalSouth Bancshares will post 2.33 earnings per share for the current year.

Insider Buying and Selling at CoastalSouth Bancshares

In other news, Director Ernst Bruderer sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $27.43, for a total value of $54,860.00. Following the transaction, the director owned 41,131 shares in the company, valued at $1,128,223.33. This trade represents a 4.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 5,000 shares of company stock valued at $137,420 in the last quarter. Company insiders own 15.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in COSO. Squarepoint Ops LLC purchased a new position in CoastalSouth Bancshares in the 2nd quarter valued at $294,000. WINTON GROUP Ltd purchased a new stake in shares of CoastalSouth Bancshares during the second quarter worth $314,000. Bank of America Corp DE grew its holdings in shares of CoastalSouth Bancshares by 306.7% during the first quarter. Bank of America Corp DE now owns 16,014 shares of the company’s stock worth $394,000 after buying an additional 12,076 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of CoastalSouth Bancshares by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 20,591 shares of the company’s stock valued at $506,000 after buying an additional 503 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of CoastalSouth Bancshares by 61.5% in the first quarter. Sei Investments Co. now owns 21,672 shares of the company’s stock valued at $533,000 after buying an additional 8,249 shares during the last quarter.

About CoastalSouth Bancshares

CoastalSouth Bancshares, Inc is a bank holding company that operates through its wholly owned subsidiary, Coastal States Bank. The company provides community banking services to individuals, families, businesses and organizations.

Coastal States Bank offers deposit accounts, commercial and residential real estate lending, business loans, consumer loans, treasury management, online and mobile banking, and other traditional financial services. Its activities are focused primarily on serving small and middle-market businesses, professionals and retail customers.

The company is based in Savannah, Georgia, and serves communities in coastal Georgia and South Carolina through its banking offices and digital channels.