CoastalSouth Bancshares (NYSE:COSO) Shares Up 0.4% - What's Next?

Key Points

• CoastalSouth Bancshares shares edged up 0.4% on Friday, trading between $26.30 and $26.75, with volume well below average at 57,880 shares.
• Analysts remain cautiously positive: Weiss Ratings reaffirmed a buy (B+) rating, Piper Sandler raised its target to $30, and the stock currently carries a Moderate Buy consensus with a $30 average price target.
• The company recently missed quarterly earnings and revenue estimates, reporting $0.51 EPS versus the expected $0.56, while also maintaining a quarterly dividend of $0.05 per share for a 0.8% annualized yield.

CoastalSouth Bancshares, Inc. (NYSE:COSO - Get Free Report)'s share price rose 0.4% on Friday . The stock traded as high as $26.75 and last traded at $26.3990. 57,880 shares changed hands during trading, a decline of 66% from the average session volume of 172,488 shares. The stock had previously closed at $26.30.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of CoastalSouth Bancshares in a research report on Friday, June 5th. Piper Sandler boosted their price objective on shares of CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.00.

CoastalSouth Bancshares Stock Performance

The company has a market capitalization of $317.84 million and a PE ratio of 12.00. The stock's 50-day simple moving average is $26.13 and its 200 day simple moving average is $25.06.

CoastalSouth Bancshares (NYSE:COSO - Get Free Report) last announced its earnings results on Monday, April 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). The firm had revenue of $21.71 million during the quarter, compared to analyst estimates of $22.10 million. CoastalSouth Bancshares had a net margin of 18.91% and a return on equity of 10.66%. On average, analysts expect that CoastalSouth Bancshares, Inc. will post 2.42 earnings per share for the current year.

CoastalSouth Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. CoastalSouth Bancshares's dividend payout ratio (DPR) is 9.09%.

Insiders Place Their Bets

In other CoastalSouth Bancshares news, CFO Anthony P. Valduga sold 4,558 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $25.84, for a total value of $117,778.72. Following the completion of the transaction, the chief financial officer directly owned 86,115 shares of the company's stock, valued at approximately $2,225,211.60. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 15.11% of the company's stock.

Institutional Trading of CoastalSouth Bancshares

Several large investors have recently bought and sold shares of COSO. Patriot Financial Partners GP II L.P. grew its stake in CoastalSouth Bancshares by 61.2% in the 1st quarter. Patriot Financial Partners GP II L.P. now owns 1,159,211 shares of the company's stock valued at $28,505,000 after acquiring an additional 440,000 shares during the last quarter. Fourthstone LLC lifted its holdings in CoastalSouth Bancshares by 153.8% in the 4th quarter. Fourthstone LLC now owns 959,797 shares of the company's stock valued at $22,315,000 after purchasing an additional 581,656 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in shares of CoastalSouth Bancshares during the third quarter worth about $10,972,000. Azora Capital LP acquired a new position in shares of CoastalSouth Bancshares in the third quarter valued at approximately $8,704,000. Finally, Mendon Capital Advisors Corp acquired a new position in shares of CoastalSouth Bancshares in the third quarter valued at approximately $7,243,000.

CoastalSouth Bancshares Company Profile

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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