CoastalSouth Bancshares, Inc. $COSO Stock Position Raised by Patriot Financial Partners GP II L.P.

Patriot Financial Partners GP II L.P. grew its holdings in shares of CoastalSouth Bancshares, Inc. (NYSE:COSO) by 61.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,159,211 shares of the company’s stock after buying an additional 440,000 shares during the period. CoastalSouth Bancshares makes up approximately 7.3% of Patriot Financial Partners GP II L.P.’s investment portfolio, making the stock its 7th largest holding. Patriot Financial Partners GP II L.P. owned about 0.10% of CoastalSouth Bancshares worth $28,505,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Fourthstone LLC boosted its stake in shares of CoastalSouth Bancshares by 153.8% in the fourth quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock valued at $22,315,000 after buying an additional 581,656 shares in the last quarter. Alliancebernstein L.P. purchased a new position in CoastalSouth Bancshares in the third quarter worth $10,972,000. Mendon Capital Advisors Corp purchased a new position in CoastalSouth Bancshares in the third quarter worth $7,243,000. Vanguard Group Inc. purchased a new position in CoastalSouth Bancshares in the third quarter worth $3,212,000. Finally, Marshall Wace LLP acquired a new stake in CoastalSouth Bancshares in the fourth quarter valued at $1,220,000.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler boosted 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. Weiss Ratings reiterated a “buy (b+)” rating on shares of CoastalSouth Bancshares in a report on Friday, June 5th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, CoastalSouth Bancshares has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Insiders Place Their Bets

In other news, CFO Anthony P. Valduga sold 4,558 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 86,115 shares in the company, valued at $2,225,211.60. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 15.11% of the company’s stock.

CoastalSouth Bancshares Price Performance

Shares of NYSE:COSO opened at $27.04 on Friday. The firm has a market capitalization of $325.60 million and a price-to-earnings ratio of 12.29. The business’s 50 day simple moving average is $26.25 and its 200-day simple moving average is $25.15. CoastalSouth Bancshares, Inc. has a 12 month low of $19.24 and a 12 month high of $28.02.

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

CoastalSouth Bancshares 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.