CoastalSouth Bancshares (NYSE:COSO) Price Target Raised to $30.00

Key Points

• Piper Sandler raised its price target on CoastalSouth Bancshares to $30.00 (from $29.00) and keeps an "overweight" rating, implying roughly a 15.21% upside from the current price.
• The stock has a consensus "Moderate Buy" from analysts (two Buy, one Hold) with an average price target of $30.00.
• CoastalSouth missed recent quarterly estimates, reporting $0.51 EPS vs. $0.56 expected and $21.71M revenue vs. $22.10M, while trading near $26.04 with a market cap of about $308.6M and a P/E of 11.84.

CoastalSouth Bancshares (NYSE:COSO - Get Free Report) had its target price increased by Piper Sandler from $29.00 to $30.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price suggests a potential upside of 15.21% from the stock's current price.

Several other analysts also recently issued reports on the stock. Zacks Research raised shares of CoastalSouth Bancshares from a "strong sell" rating to a "hold" rating in a research note on Friday, January 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of CoastalSouth Bancshares in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised shares of CoastalSouth Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, March 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $30.00.

CoastalSouth Bancshares Price Performance

NYSE COSO traded up $0.45 on Tuesday, hitting $26.04. 19,518 shares of the stock were exchanged, compared to its average volume of 85,792. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.84. The business has a fifty day simple moving average of $24.80. CoastalSouth Bancshares has a 52 week low of $19.24 and a 52 week high of $26.36. The stock has a market capitalization of $308.57 million and a P/E ratio of 11.84.

CoastalSouth Bancshares (NYSE:COSO - Get Free Report) last posted its quarterly earnings results on Monday, April 20th. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). CoastalSouth Bancshares had a net margin of 18.91% and a return on equity of 10.92%. The company had revenue of $21.71 million during the quarter, compared to analyst estimates of $22.10 million. Analysts predict that CoastalSouth Bancshares will post 2.39 EPS for the current fiscal year.

Institutional Trading of CoastalSouth Bancshares

Large investors have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in CoastalSouth Bancshares during the 4th quarter valued at about $40,000. New York State Common Retirement Fund purchased a new stake in CoastalSouth Bancshares during the 3rd quarter valued at about $41,000. BNP Paribas Financial Markets purchased a new stake in CoastalSouth Bancshares during the 3rd quarter valued at about $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in CoastalSouth Bancshares during the 3rd quarter valued at about $47,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of CoastalSouth Bancshares during the 3rd quarter worth $67,000.

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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