Insider Selling: CoastalSouth Bancshares (NYSE:COSO) Director Sells 2,000 Shares of Stock

Key Points

• Director Ernst Bruderer sold 2,000 CoastalSouth Bancshares shares at an average price of $27.50, generating $55,000 and reducing his holdings by 4.43% to 43,131 shares.
• COSO shares closed at $27.43, near their 52-week high of $28.56. The company recently reported quarterly EPS of $0.59, below the $0.61 consensus estimate, on revenue of $22.87 million.
• Analysts maintain a consensus “Buy” rating with a $30 price target, while the company declared a quarterly dividend of $0.05, representing a 0.7% annualized yield.

CoastalSouth Bancshares, Inc. (NYSE:COSO - Get Free Report) Director Ernst Bruderer sold 2,000 shares of CoastalSouth Bancshares stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $27.50, for a total transaction of $55,000.00. Following the completion of the transaction, the director owned 43,131 shares in the company, valued at approximately $1,186,102.50. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

CoastalSouth Bancshares Price Performance

Shares of NYSE:COSO traded down $0.11 on Wednesday, reaching $27.43. 86,725 shares of the company traded hands, compared to its average volume of 100,679. CoastalSouth Bancshares, Inc. has a fifty-two week low of $20.80 and a fifty-two week high of $28.56. The company's 50 day moving average is $27.10 and its 200-day moving average is $25.86. The stock has a market capitalization of $327.79 million and a PE ratio of 12.36. 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 released its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). The company 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%. As a group, analysts anticipate that CoastalSouth Bancshares, Inc. will post 2.37 earnings per share for the current fiscal year.

CoastalSouth Bancshares Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings raised shares of CoastalSouth Bancshares from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, August 12th. Piper Sandler lifted their target price on shares of CoastalSouth Bancshares from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $30.00.

Institutional Trading of CoastalSouth Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the business. HB Wealth Management LLC lifted its stake in CoastalSouth Bancshares by 1.2% in the 1st quarter. HB Wealth Management LLC now owns 38,643 shares of the company's stock worth $950,000 after acquiring an additional 459 shares in the last quarter. Bank of New York Mellon Corp grew its stake in CoastalSouth Bancshares by 2.5% during the 1st quarter. Bank of New York Mellon Corp now owns 20,591 shares of the company's stock valued at $506,000 after acquiring an additional 503 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of CoastalSouth Bancshares in the 4th quarter valued at about $40,000. Charles Schwab Investment Management Inc. increased its holdings in shares of CoastalSouth Bancshares by 11.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,362 shares of the company's stock valued at $404,000 after purchasing an additional 1,780 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of CoastalSouth Bancshares in the 3rd quarter valued at about $47,000.

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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