CoastalSouth Bancshares (NYSE:COSO) Price Target Raised to $29.00 at Piper Sandler

CoastalSouth Bancshares (NYSE:COSO) had its price objective boosted by equities research analysts at Piper Sandler from $27.00 to $29.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 14.53% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Zacks Research raised shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Wall Street Zen upgraded CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CoastalSouth Bancshares in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

CoastalSouth Bancshares Stock Up 0.1%

Shares of NYSE COSO traded up $0.03 during midday trading on Thursday, reaching $25.32. 102,884 shares of the company’s stock traded hands, compared to its average volume of 87,445. CoastalSouth Bancshares has a one year low of $19.24 and a one year high of $25.90. The stock’s 50 day moving average is $23.64. The stock has a market cap of $303.31 million and a P/E ratio of 14.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.92.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in COSO. Patriot Financial Partners GP II L.P. acquired a new position in shares of CoastalSouth Bancshares during the 3rd quarter worth $24,256,000. EJF Capital LLC acquired a new position in CoastalSouth Bancshares in the third quarter valued at $20,287,000. Alliancebernstein L.P. purchased a new position in shares of CoastalSouth Bancshares during the 3rd quarter worth about $10,972,000. Azora Capital LP acquired a new position in shares of CoastalSouth Bancshares in the 3rd quarter valued at $8,704,000. Finally, Endeavour Capital Advisors Inc. purchased a new stake in CoastalSouth Bancshares during the third quarter valued at about $7,349,000.

About CoastalSouth Bancshares

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.