CoastalSouth Bancshares (NYSE:COSO) Stock Dropped to Strong Sell by Zacks Research

CoastalSouth Bancshares (NYSE:COSO) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday, Zacks reports.

Separately, 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.00.

CoastalSouth Bancshares Stock Performance

Shares of NYSE:COSO opened at $26.65 on Thursday. The business has a fifty day moving average of $27.31 and a 200-day moving average of $26.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.95. CoastalSouth Bancshares has a twelve month low of $20.80 and a twelve month high of $28.56. The firm has a market cap of $318.49 million, a PE ratio of 12.01 and a beta of -0.01.

CoastalSouth Bancshares (NYSE:COSO) last issued its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02). CoastalSouth Bancshares had a return on equity of 10.57% and a net margin of 19.59%.The company had revenue of $22.87 million for the quarter. On average, equities research analysts predict that CoastalSouth Bancshares will post 2.33 EPS for the current fiscal year.

Insider Activity

In other news, Director Ernst Bruderer sold 2,000 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $27.43, for a total transaction of $54,860.00. Following the transaction, the director owned 41,131 shares of the company’s stock, valued at $1,128,223.33. This represents a 4.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 5,000 shares of company stock worth $137,420 over the last quarter. Corporate insiders own 15.11% of the company’s stock.

Institutional Trading of CoastalSouth Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new position in shares of CoastalSouth Bancshares in the 2nd quarter valued at about $314,000. Squarepoint Ops LLC acquired a new stake in shares of CoastalSouth Bancshares during the second quarter worth $294,000. Bank of New York Mellon Corp bought a new stake in CoastalSouth Bancshares in the second quarter valued at approximately $574,000. Bank of America Corp DE increased its holdings in shares of CoastalSouth Bancshares by 306.7% in the first quarter. Bank of America Corp DE now owns 16,014 shares of the company’s stock worth $394,000 after acquiring an additional 12,076 shares in the last quarter. Finally, Mendon Capital Advisors Corp increased its position in shares of CoastalSouth Bancshares by 24.1% during the first quarter. Mendon Capital Advisors Corp now owns 329,743 shares of the company’s stock worth $8,108,000 after acquiring an additional 63,955 shares in the last quarter.

About CoastalSouth Bancshares

CoastalSouth Bancshares, Inc is a bank holding company that operates through its wholly owned subsidiary, Coastal States Bank. The company provides community banking services to individuals, families, businesses and organizations.

Coastal States Bank offers deposit accounts, commercial and residential real estate lending, business loans, consumer loans, treasury management, online and mobile banking, and other traditional financial services. Its activities are focused primarily on serving small and middle-market businesses, professionals and retail customers.

The company is based in Savannah, Georgia, and serves communities in coastal Georgia and South Carolina through its banking offices and digital channels.