Insider Selling: CoastalSouth Bancshares (NYSE:COSO) Director Sells $55,000.00 in Stock

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 2,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $27.50, for a total value of $55,000.00. Following the sale, the director owned 43,131 shares of the company’s stock, valued at approximately $1,186,102.50. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

CoastalSouth Bancshares Stock Performance

COSO stock opened at $27.52 on Friday. The firm has a market cap of $328.86 million and a PE ratio of 12.40. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $27.15 and a 200-day moving average price of $25.90. CoastalSouth Bancshares, Inc. has a 1-year low of $20.80 and a 1-year high of $28.56.

CoastalSouth Bancshares (NYSE:COSO) last announced its earnings results on Monday, July 20th. The company reported $0.59 EPS 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 business had revenue of $22.87 million for the quarter. As a group, equities research analysts expect that CoastalSouth Bancshares, Inc. will post 2.37 earnings per share for the current year.

CoastalSouth Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, August 13th. CoastalSouth Bancshares’s payout ratio is presently 9.01%.

Hedge Funds Weigh In On CoastalSouth Bancshares

Several institutional investors have recently made changes to their positions in COSO. Police & Firemen s Retirement System of New Jersey bought a new position in shares of CoastalSouth Bancshares during the 4th quarter worth about $40,000. BNP Paribas Financial Markets bought a new stake in CoastalSouth Bancshares in the 3rd quarter valued at about $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in CoastalSouth Bancshares in the 3rd quarter valued at about $47,000. JPMorgan Chase & Co. bought a new stake in CoastalSouth Bancshares in the 3rd quarter valued at about $67,000. Finally, California State Teachers Retirement System raised its stake in CoastalSouth Bancshares by 499.6% during the 2nd quarter. California State Teachers Retirement System now owns 3,034 shares of the company’s stock worth $81,000 after buying an additional 2,528 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.