CoastalSouth Bancshares (NYSE:COSO) Director Sells $27,560.00 in Stock

Key Points

• Director Ernst Bruderer sold 1,000 CoastalSouth Bancshares shares at an average price of $27.56, generating $27,560 and reducing his position by 2.12% to 46,131 shares.
• COSO shares recently traded at $28.04, near their 12-month high of $28.56, while the company reported quarterly EPS of $0.59—$0.02 below analyst expectations—and revenue of $22.87 million.
• CoastalSouth declared a quarterly dividend of $0.05 per share, equivalent to a 0.7% yield, and analysts maintain a consensus “Buy” rating with an average price target of $30.00.

CoastalSouth Bancshares, Inc. (NYSE:COSO - Get Free Report) Director Ernst Bruderer sold 1,000 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $27.56, for a total value of $27,560.00. Following the sale, the director owned 46,131 shares of the company's stock, valued at approximately $1,271,370.36. This represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

CoastalSouth Bancshares Stock Performance

COSO stock traded up $0.29 during trading on Thursday, reaching $28.04. 66,012 shares of the company traded hands, compared to its average volume of 100,691. The business has a 50 day simple moving average of $26.89 and a 200 day simple moving average of $25.64. CoastalSouth Bancshares, Inc. has a 12 month low of $19.75 and a 12 month high of $28.56. The company has a market capitalization of $335.09 million and a price-to-earnings ratio of 12.63.

CoastalSouth Bancshares (NYSE:COSO - Get Free Report) last released its quarterly 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). CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.69%. The firm had revenue of $22.87 million during the quarter. As a group, research analysts forecast that CoastalSouth Bancshares, Inc. will post 2.37 EPS for the current year.

CoastalSouth Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 13th. CoastalSouth Bancshares's dividend payout ratio (DPR) is 9.01%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COSO. Weiss Ratings upgraded CoastalSouth Bancshares from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday. Piper Sandler upped their target price on CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, CoastalSouth Bancshares currently has an average rating of "Buy" and an average target price of $30.00.

Hedge Funds Weigh In On CoastalSouth Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Patriot Financial Partners GP II L.P. acquired a new stake in shares of CoastalSouth Bancshares in the third quarter worth $24,256,000. Fourthstone LLC raised its stake in shares of CoastalSouth Bancshares by 153.8% during the 4th quarter. Fourthstone LLC now owns 959,797 shares of the company's stock valued at $22,315,000 after buying an additional 581,656 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in shares of CoastalSouth Bancshares in the third quarter worth about $10,972,000. Mendon Capital Advisors Corp acquired a new stake in CoastalSouth Bancshares during the third quarter worth about $7,243,000. Finally, Vanguard Group Inc. acquired a new stake in CoastalSouth Bancshares during the third quarter worth about $3,212,000.

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.

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