Elizabeth Park Capital Advisors Ltd. Invests $1.65 Million in CoastalSouth Bancshares, Inc. $COSO

Elizabeth Park Capital Advisors Ltd. bought a new position in CoastalSouth Bancshares, Inc. (NYSE:COSO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 75,740 shares of the company’s stock, valued at approximately $1,652,000.

A number of other institutional investors and hedge funds also recently modified their holdings of COSO. New York State Common Retirement Fund purchased a new stake in shares of CoastalSouth Bancshares during the third quarter valued at $41,000. BNP Paribas Financial Markets purchased a new position in CoastalSouth Bancshares in the 3rd quarter worth about $47,000. JPMorgan Chase & Co. purchased a new position in CoastalSouth Bancshares in the 3rd quarter worth about $67,000. Rhumbline Advisers acquired a new stake in CoastalSouth Bancshares during the 3rd quarter worth about $91,000. Finally, Sei Investments Co. acquired a new stake in CoastalSouth Bancshares during the 3rd quarter worth about $211,000.

Analyst Ratings Changes

Several research analysts have commented on the stock. Zacks Research upgraded shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Weiss Ratings restated a “buy (b)” rating on shares of CoastalSouth Bancshares in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Piper Sandler raised their price objective on shares of CoastalSouth Bancshares from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.00.

CoastalSouth Bancshares Trading Up 0.1%

Shares of CoastalSouth Bancshares stock opened at $23.93 on Friday. CoastalSouth Bancshares, Inc. has a 1 year low of $19.24 and a 1 year high of $26.29. The stock has a market cap of $286.68 million and a P/E ratio of 14.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.92. The business has a 50-day simple moving average of $24.35.

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

CoastalSouth Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. CoastalSouth Bancshares’s payout ratio is presently 11.83%.

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.