CoastalSouth Bancshares (NYSE:COSO) Trading 1% Higher – Here’s What Happened

Shares of CoastalSouth Bancshares, Inc. (NYSE:COSO) traded up 1% during mid-day trading on Tuesday . The company traded as high as $25.79 and last traded at $25.73. 54,184 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 66,926 shares. The stock had previously closed at $25.48.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Piper Sandler increased their target price on CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Wall Street Zen raised CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.00.

CoastalSouth Bancshares Stock Performance

The firm has a market cap of $303.82 million and a P/E ratio of 11.47. The firm has a fifty day moving average of $25.32 and a 200-day moving average of $24.34.

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

CoastalSouth Bancshares Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Anthony P. Valduga sold 4,558 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $25.84, for a total value of $117,778.72. Following the sale, the chief financial officer directly owned 86,115 shares in the company, valued at $2,225,211.60. This trade represents a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.11% of the stock is currently owned by corporate insiders.

Institutional Trading of CoastalSouth Bancshares

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

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.