Ernst Bruderer Sells 2,000 Shares of CoastalSouth Bancshares (NYSE:COSO) Stock

CoastalSouth Bancshares, Inc. (NYSE:COSO) Director Ernst Bruderer sold 2,000 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $27.43, for a total value of $54,860.00. Following the completion of the sale, the director owned 41,131 shares of the company’s stock, valued at approximately $1,128,223.33. This trade represents a 4.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

CoastalSouth Bancshares Price Performance

Shares of CoastalSouth Bancshares stock traded down $0.12 during trading on Monday, reaching $27.37. The company’s stock had a trading volume of 92,031 shares, compared to its average volume of 100,284. The stock has a 50-day moving average price of $27.15 and a two-hundred day moving average price of $25.91. The stock has a market capitalization of $327.07 million and a P/E ratio of 12.33. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.28. CoastalSouth Bancshares, Inc. has a one year low of $20.80 and a one year high of $28.56.

CoastalSouth Bancshares (NYSE:COSO) last issued its quarterly earnings data on Monday, July 20th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). The company had revenue of $22.87 million for the quarter. CoastalSouth Bancshares had a return on equity of 10.57% and a net margin of 19.59%. As a group, sell-side analysts anticipate that CoastalSouth Bancshares, Inc. will post 2.37 EPS for the current fiscal year.

CoastalSouth Bancshares Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of CoastalSouth Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $30.00.

Institutional Trading of CoastalSouth Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey bought a new stake in CoastalSouth Bancshares during the 4th quarter worth about $40,000. BNP Paribas Financial Markets bought a new position in shares of CoastalSouth Bancshares in the 3rd quarter valued at about $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of CoastalSouth Bancshares in the 3rd quarter valued at about $47,000. California State Teachers Retirement System grew its position in shares of 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. Finally, JPMorgan Chase & Co. acquired a new stake in shares of CoastalSouth Bancshares during the 3rd quarter worth approximately $67,000.

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.