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

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 2,000 shares of CoastalSouth Bancshares stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $27.43, for a total value of $54,860.00. Following the sale, the director directly owned 41,131 shares of the company’s stock, valued at approximately $1,128,223.33. This trade represents a 4.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

CoastalSouth Bancshares Price Performance

Shares of CoastalSouth Bancshares stock opened at $27.37 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $327.07 million and a PE ratio of 12.33. The business’s 50-day moving average price is $27.16 and its 200-day moving average price is $25.92. CoastalSouth Bancshares, Inc. has a 12 month low of $20.80 and a 12 month high of $28.56.

CoastalSouth Bancshares (NYSE:COSO) last released its earnings results 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 return on equity of 10.57% and a net margin of 19.59%. Sell-side analysts forecast that CoastalSouth Bancshares, Inc. will post 2.37 EPS for the current fiscal year.

CoastalSouth Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend 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 9.01%.

Analysts Set New Price Targets

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 issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $30.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. HB Wealth Management LLC raised its holdings in CoastalSouth Bancshares by 1.2% during the 1st quarter. HB Wealth Management LLC now owns 38,643 shares of the company’s stock valued at $950,000 after buying an additional 459 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in CoastalSouth Bancshares by 2.5% in the 1st quarter. Bank of New York Mellon Corp now owns 20,591 shares of the company’s stock worth $506,000 after acquiring an additional 503 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in CoastalSouth Bancshares in the 4th quarter worth $40,000. Charles Schwab Investment Management Inc. increased its position in shares of CoastalSouth Bancshares by 11.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,362 shares of the company’s stock valued at $404,000 after acquiring an additional 1,780 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of CoastalSouth Bancshares during the third quarter valued at about $47,000.

About CoastalSouth Bancshares

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.