Banc Funds Co. LLC Decreases Holdings in CoastalSouth Bancshares, Inc. $COSO

Banc Funds Co. LLC cut its stake in CoastalSouth Bancshares, Inc. (NYSE:COSO) by 65.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,715 shares of the company’s stock after selling 161,890 shares during the quarter. Banc Funds Co. LLC owned about 0.72% of CoastalSouth Bancshares worth $1,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of COSO. New York State Common Retirement Fund acquired a new stake in shares of CoastalSouth Bancshares in the third quarter valued at about $41,000. BNP Paribas Financial Markets purchased a new stake in shares of CoastalSouth Bancshares during the 3rd quarter valued at about $47,000. JPMorgan Chase & Co. acquired a new position in CoastalSouth Bancshares during the 3rd quarter worth approximately $67,000. Rhumbline Advisers acquired a new position in CoastalSouth Bancshares during the 3rd quarter worth approximately $91,000. Finally, Bank of America Corp DE purchased a new position in CoastalSouth Bancshares in the 3rd quarter worth approximately $147,000.

Wall Street Analysts Forecast Growth

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

CoastalSouth Bancshares Stock Performance

Shares of COSO stock opened at $23.93 on Friday. The company has a market capitalization of $286.68 million and a PE ratio of 14.16. CoastalSouth Bancshares, Inc. has a one year low of $19.24 and a one year high of $26.29. The stock’s 50-day moving average is $24.35. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

CoastalSouth Bancshares (NYSE:COSO) last announced its quarterly earnings data 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 company had revenue of $22.16 million during the quarter, compared to analysts’ expectations of $22.30 million.

CoastalSouth Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were given a $0.05 dividend. The ex-dividend date was Thursday, February 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. CoastalSouth Bancshares’s dividend payout ratio (DPR) is presently 11.83%.

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.