Ernst Bruderer Sells 1,000 Shares of CoastalSouth Bancshares (NYSE:COSO) Stock

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $27.56, for a total transaction of $27,560.00. Following the sale, the director owned 46,131 shares of the company’s stock, valued at approximately $1,271,370.36. The trade was a 2.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CoastalSouth Bancshares Price Performance

CoastalSouth Bancshares stock opened at $27.79 on Friday. CoastalSouth Bancshares, Inc. has a 12 month low of $19.75 and a 12 month high of $28.56. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 0.28. The business’s 50 day simple moving average is $26.97 and its 200 day simple moving average is $25.69. The company has a market cap of $332.08 million and a price-to-earnings ratio of 12.52.

CoastalSouth Bancshares (NYSE:COSO) last announced its quarterly earnings data on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.57%. The firm had revenue of $22.87 million for the quarter. Sell-side analysts forecast that CoastalSouth Bancshares, Inc. will post 2.37 EPS for the current year.

CoastalSouth Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 13th. CoastalSouth Bancshares’s dividend payout ratio is currently 9.01%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of CoastalSouth Bancshares during the fourth quarter worth $40,000. BNP Paribas Financial Markets bought a new position in shares of CoastalSouth Bancshares in the third quarter worth $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of CoastalSouth Bancshares in the third quarter valued at $47,000. JPMorgan Chase & Co. purchased a new position in shares of CoastalSouth Bancshares in the third quarter valued at $67,000. Finally, Rhumbline Advisers bought a new stake in shares of CoastalSouth Bancshares during the 3rd quarter valued at $91,000.

Wall Street Analyst Weigh In

COSO has been the subject of several recent research reports. Weiss Ratings raised CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Piper Sandler upped their price objective on shares of CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, CoastalSouth Bancshares has an average rating of “Buy” and an average price target of $30.00.

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.