CoastalSouth Bancshares (NYSE:COSO) Stock Picked Up by Analysts at Brean Capital

Key Points

• Brean Capital initiated coverage of CoastalSouth Bancshares with a “buy” rating and a $33 price target, implying approximately 22.9% upside from the reported $26.84 share price.
• Analyst sentiment is mixed but leans positive: COSO has an overall “Moderate Buy” rating and an average price target of $31.50, despite Zacks Research downgrading the stock to “strong sell.”
• CoastalSouth reported quarterly earnings of $0.59 per share, below the $0.61 consensus estimate, while insiders sold 5,000 shares worth about $137,420 during the last quarter.

Equities research analysts at Brean Capital started coverage on shares of CoastalSouth Bancshares (NYSE:COSO - Get Free Report) in a report released on Tuesday, Briefing.com reports. The brokerage set a "buy" rating and a $33.00 price target on the stock. Brean Capital's price objective points to a potential upside of 22.93% from the company's current price.

Several other analysts also recently commented on COSO. Zacks Research downgraded shares of CoastalSouth Bancshares from a "hold" rating to a "strong sell" rating in a report on Thursday, September 24th. Weiss Ratings upgraded shares of 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, two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.50.

CoastalSouth Bancshares Trading Up 0.7%

CoastalSouth Bancshares stock opened at $26.84 on Tuesday. The stock has a 50-day moving average price of $27.23 and a 200 day moving average price of $26.44. The company has a market capitalization of $320.80 million, a price-to-earnings ratio of 12.09 and a beta of 0.07. CoastalSouth Bancshares has a 52 week low of $20.80 and a 52 week high of $28.56. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.28.

CoastalSouth Bancshares (NYSE:COSO - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share 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 business had revenue of $22.87 million during the quarter. Sell-side analysts anticipate that CoastalSouth Bancshares will post 2.33 EPS for the current year.

Insider Activity at CoastalSouth Bancshares

In other news, Director Ernst Bruderer sold 2,000 shares of the company's 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 owned 41,131 shares in the company, valued at $1,128,223.33. This represents a 4.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 5,000 shares of company stock valued at $137,420 in the last quarter. 15.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COSO. WINTON GROUP Ltd acquired a new stake in CoastalSouth Bancshares during the second quarter valued at $314,000. Squarepoint Ops LLC purchased a new position in CoastalSouth Bancshares in the second quarter valued at $294,000. Bank of New York Mellon Corp acquired a new position in shares of CoastalSouth Bancshares in the second quarter worth about $574,000. Bank of America Corp DE raised its position in shares of CoastalSouth Bancshares by 306.7% in the first quarter. Bank of America Corp DE now owns 16,014 shares of the company's stock worth $394,000 after acquiring an additional 12,076 shares during the period. Finally, Mendon Capital Advisors Corp raised its position in shares of CoastalSouth Bancshares by 24.1% in the first quarter. Mendon Capital Advisors Corp now owns 329,743 shares of the company's stock worth $8,108,000 after acquiring an additional 63,955 shares during the period.

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 nonprofit organizations.

Coastal States Bank offers a range of deposit products, commercial and consumer lending, mortgage lending, cash-management and treasury services, online and mobile banking, and other traditional banking solutions. Its lending activities include commercial real estate, business, residential mortgage and consumer loans.

Founded in 2003, CoastalSouth Bancshares serves communities in coastal South Carolina and Georgia, including the Hilton Head Island and Savannah markets.

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