Insider Selling: CoastalSouth Bancshares (NYSE:COSO) CFO Sells $117,778.72 in Stock

CoastalSouth Bancshares, Inc. (NYSE:COSO) CFO Anthony Valduga sold 4,558 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $25.84, for a total transaction of $117,778.72. Following the transaction, the chief financial officer directly owned 86,115 shares in the company, valued at approximately $2,225,211.60. The trade was a 5.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

CoastalSouth Bancshares Trading Up 0.1%

Shares of NYSE:COSO opened at $25.85 on Friday. The stock has a 50 day moving average of $24.86. The firm has a market cap of $306.36 million and a price-to-earnings ratio of 11.75. CoastalSouth Bancshares, Inc. has a twelve month low of $19.24 and a twelve month high of $26.36. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12.

CoastalSouth Bancshares (NYSE:COSO) last posted its quarterly earnings data on Monday, April 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). CoastalSouth Bancshares had a net margin of 18.91% and a return on equity of 10.92%. The company had revenue of $21.71 million for the quarter, compared to analyst estimates of $22.10 million. Equities research analysts forecast that CoastalSouth Bancshares, Inc. will post 2.42 EPS for the current year.

CoastalSouth Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, May 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. CoastalSouth Bancshares’s dividend payout ratio (DPR) is 9.09%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Patriot Financial Partners GP II L.P. lifted its position in shares of CoastalSouth Bancshares by 61.2% during the 1st quarter. Patriot Financial Partners GP II L.P. now owns 1,159,211 shares of the company’s stock valued at $28,505,000 after acquiring an additional 440,000 shares during the last quarter. Fourthstone LLC boosted its stake in shares of CoastalSouth Bancshares by 153.8% during the 4th quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock worth $22,315,000 after acquiring an additional 581,656 shares in the last quarter. EJF Capital LLC acquired a new position in shares of CoastalSouth Bancshares in the 3rd quarter worth $20,287,000. Alliancebernstein L.P. acquired a new position in shares of CoastalSouth Bancshares in the 3rd quarter worth $10,972,000. Finally, Azora Capital LP acquired a new stake in shares of CoastalSouth Bancshares during the third quarter worth $8,704,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COSO. Piper Sandler upped their price objective on CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Wall Street Zen raised CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Weiss Ratings reaffirmed 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.