Short Interest in CoastalSouth Bancshares, Inc. (NYSE:COSO) Drops By 37.9%

CoastalSouth Bancshares, Inc. (NYSE:COSO) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 88,146 shares, a drop of 37.9% from the December 31st total of 142,032 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 72,593 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 72,593 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COSO. Wall Street Zen upgraded CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings restated a “buy (b)” rating on shares of CoastalSouth Bancshares in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

CoastalSouth Bancshares Stock Performance

COSO stock opened at $23.76 on Friday. The business’s fifty day moving average price is $23.43. CoastalSouth Bancshares has a fifty-two week low of $19.24 and a fifty-two week high of $25.56. The company has a market cap of $284.64 million and a P/E ratio of 14.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.80.

CoastalSouth Bancshares (NYSE:COSO) last released its quarterly earnings data on Tuesday, January 20th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.04). The business had revenue of $22.16 million for the quarter, compared to analyst estimates of $22.30 million.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Patriot Financial Partners GP II L.P. bought a new stake in CoastalSouth Bancshares during the 3rd quarter valued at $24,256,000. EJF Capital LLC purchased a new position in shares of CoastalSouth Bancshares in the third quarter valued at $20,287,000. Alliancebernstein L.P. bought a new stake in shares of CoastalSouth Bancshares during the 3rd quarter valued at $10,972,000. Azora Capital LP bought a new stake in shares of CoastalSouth Bancshares during the 3rd quarter valued at $8,704,000. Finally, Endeavour Capital Advisors Inc. purchased a new stake in CoastalSouth Bancshares during the 3rd quarter worth about $7,349,000.

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.