CoastalSouth Bancshares (NYSE:COSO) Director Ernst Bruderer Sells 6,000 Shares of Stock

Key Points

• Director Ernst Bruderer sold 6,000 CoastalSouth Bancshares shares at an average price of $27.92, generating $167,520 and reducing his ownership by 14.59% to 35,131 shares.
• CoastalSouth reported quarterly EPS of $0.71, exceeding the $0.59 consensus estimate, on revenue of $24.86 million. The company also raised its quarterly dividend to $0.06 per share, equivalent to a 0.9% annualized yield.
• Analyst views remain mixed but lean positive, with a consensus “Moderate Buy” rating and a $31.50 price target; COSO recently traded near $27.82, close to its 52-week high of $28.56.

CoastalSouth Bancshares, Inc. (NYSE:COSO - Get Free Report) Director Ernst Bruderer sold 6,000 shares of the stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $27.92, for a total value of $167,520.00. Following the completion of the sale, the director owned 35,131 shares of the company's stock, valued at $980,857.52. The trade was a 14.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

CoastalSouth Bancshares Trading Down 0.4%

Shares of NYSE:COSO traded down $0.10 during trading on Monday, reaching $27.82. The stock had a trading volume of 10,201 shares, compared to its average volume of 103,005. CoastalSouth Bancshares, Inc. has a 52 week low of $20.80 and a 52 week high of $28.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.95. The firm's fifty day moving average is $27.11 and its 200 day moving average is $26.60. The stock has a market cap of $332.45 million, a price-to-earnings ratio of 11.66 and a beta of 0.07.

CoastalSouth Bancshares (NYSE:COSO - Get Free Report) last issued its earnings results on Monday, October 19th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.12. CoastalSouth Bancshares had a net margin of 20.56% and a return on equity of 11.20%. The business had revenue of $24.86 million for the quarter. As a group, equities analysts forecast that CoastalSouth Bancshares, Inc. will post 2.33 EPS for the current fiscal year.

CoastalSouth Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.06 per share. This is an increase from CoastalSouth Bancshares's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, November 10th. CoastalSouth Bancshares's dividend payout ratio is 8.37%.

Analyst Upgrades and Downgrades

COSO has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of CoastalSouth Bancshares from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, August 12th. Zacks Research lowered CoastalSouth Bancshares from a "hold" rating to a "strong sell" rating in a report on Thursday, September 24th. Finally, Brean Capital assumed coverage on CoastalSouth Bancshares in a report on Tuesday, October 13th. They issued a "buy" rating and a $33.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, CoastalSouth Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in COSO. Patriot Financial Partners GP II L.P. grew its position in CoastalSouth Bancshares by 61.2% during the 1st quarter. Patriot Financial Partners GP II L.P. now owns 1,159,211 shares of the company's stock worth $28,505,000 after acquiring an additional 440,000 shares during the last quarter. Mendon Capital Advisors Corp lifted its position in CoastalSouth Bancshares by 24.1% in the first quarter. Mendon Capital Advisors Corp now owns 329,743 shares of the company's stock valued at $8,108,000 after purchasing an additional 63,955 shares during the last quarter. North Reef Capital Management LP lifted its position in CoastalSouth Bancshares by 21.6% in the first quarter. North Reef Capital Management LP now owns 320,982 shares of the company's stock valued at $7,893,000 after purchasing an additional 57,082 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in CoastalSouth Bancshares in the second quarter valued at approximately $574,000. Finally, Bank of America Corp DE boosted its stake in shares of CoastalSouth Bancshares by 306.7% during the first quarter. Bank of America Corp DE now owns 16,014 shares of the company's stock valued at $394,000 after purchasing an additional 12,076 shares during the period.

CoastalSouth Bancshares Company Profile

CoastalSouth Bancshares, Inc is a bank holding company that operates through its wholly owned subsidiary, Coastal States Bank. The company provides banking services to individuals, businesses and commercial clients, with a focus on relationship-based community banking.

Its products and services include deposit accounts, commercial and consumer lending, residential mortgage lending, treasury management and other banking solutions. Coastal States Bank serves customers through branch locations and digital banking channels.

The company's operations are concentrated in the southeastern United States, including markets in coastal Georgia and South Carolina.

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