CoastalSouth Bancshares (NYSE:COSO) Director Sells $167,520.00 in Stock

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 6,000 shares of the business’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $27.92, for a total transaction of $167,520.00. Following the completion of the transaction, the director owned 35,131 shares in the company, valued at $980,857.52. The trade was a 14.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

CoastalSouth Bancshares Trading Down 0.4%

Shares of NYSE:COSO traded down $0.10 during midday trading on Monday, hitting $27.82. 10,201 shares of the stock traded hands, compared to its average volume of 103,005. The stock has a market capitalization of $332.45 million, a PE ratio of 11.66 and a beta of 0.07. The business’s 50 day moving average is $27.11 and its two-hundred day moving average is $26.60. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.28. CoastalSouth Bancshares, Inc. has a one year low of $20.80 and a one year high of $28.56.

CoastalSouth Bancshares (NYSE:COSO) last posted 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 return on equity of 11.20% and a net margin of 20.56%. The company had revenue of $24.86 million for the quarter. As a group, research analysts forecast that CoastalSouth Bancshares, Inc. will post 2.33 earnings per share for the current year.

CoastalSouth Bancshares Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently issued reports on COSO. Weiss Ratings raised CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 12th. Zacks Research downgraded CoastalSouth Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, September 24th. Finally, Brean Capital started coverage on CoastalSouth Bancshares in a research note on Tuesday, October 13th. They issued a “buy” rating and a $33.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Institutional Trading of CoastalSouth Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd bought a new stake in CoastalSouth Bancshares during the 2nd quarter valued at approximately $314,000. Squarepoint Ops LLC bought a new position in shares of CoastalSouth Bancshares in the 2nd quarter worth approximately $294,000. Bank of New York Mellon Corp bought a new position in shares of CoastalSouth Bancshares in the 2nd quarter worth approximately $574,000. Bank of America Corp DE lifted its stake in shares of CoastalSouth Bancshares by 306.7% in the 1st 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. Finally, Mendon Capital Advisors Corp boosted 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 valued at $8,108,000 after purchasing 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 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.