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

Key Points

• Director Ernst Bruderer sold 2,000 CoastalSouth Bancshares shares at an average price of $27.43, generating $54,860 and reducing his stake by 4.64% to 41,131 shares.
• Shares closed at $27.37, while the company reported quarterly EPS of $0.59, below the $0.61 analyst consensus. Analysts project full-year EPS of $2.37.
• CoastalSouth maintained a quarterly dividend of $0.05 per share, equal to a 0.7% yield, and analysts collectively rate the stock “Buy” with a $30 average price target.

CoastalSouth Bancshares, Inc. (NYSE:COSO - Get Free Report) Director Ernst Bruderer sold 2,000 shares of the business's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $27.43, for a total transaction of $54,860.00. Following the completion of the sale, the director directly owned 41,131 shares in the company, valued at $1,128,223.33. This trade represents a 4.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

CoastalSouth Bancshares Price Performance

Shares of CoastalSouth Bancshares stock traded down $0.12 during trading on Monday, hitting $27.37. 92,031 shares of the company's stock traded hands, compared to its average volume of 100,284. The company has a market cap of $327.07 million and a PE ratio of 12.33. The firm's fifty day moving average price is $27.15 and its 200 day moving average price is $25.91. CoastalSouth Bancshares, Inc. has a twelve month low of $20.80 and a twelve month high of $28.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.95 and a quick ratio of 0.84.

CoastalSouth Bancshares (NYSE:COSO - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.02). The business had revenue of $22.87 million for the quarter. CoastalSouth Bancshares had a return on equity of 10.57% and a net margin of 19.59%. Analysts forecast that CoastalSouth Bancshares, Inc. will post 2.37 earnings per share for the current year.

CoastalSouth Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 13th. CoastalSouth Bancshares's dividend payout ratio (DPR) is 9.01%.

Institutional Trading of CoastalSouth Bancshares

Several large investors have recently added to or reduced their stakes in COSO. Police & Firemen s Retirement System of New Jersey bought a new position in shares of CoastalSouth Bancshares in the fourth quarter valued at approximately $40,000. BNP Paribas Financial Markets bought a new stake in CoastalSouth Bancshares during the 3rd quarter worth approximately $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in CoastalSouth Bancshares during the 3rd quarter worth approximately $47,000. California State Teachers Retirement System increased its holdings in CoastalSouth Bancshares by 499.6% during the 2nd quarter. California State Teachers Retirement System now owns 3,034 shares of the company's stock valued at $81,000 after purchasing an additional 2,528 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in CoastalSouth Bancshares during the 3rd quarter valued at $67,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded CoastalSouth Bancshares from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $30.00.

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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