Endeavour Capital Advisors Inc. Acquires New Stake in CoastalSouth Bancshares, Inc. $COSO

Endeavour Capital Advisors Inc. bought a new stake in CoastalSouth Bancshares, Inc. (NYSE:COSO) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 336,940 shares of the company’s stock, valued at approximately $7,349,000. CoastalSouth Bancshares makes up 2.2% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 18th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in COSO. New York State Common Retirement Fund purchased a new position in shares of CoastalSouth Bancshares in the third quarter worth about $41,000. JPMorgan Chase & Co. bought a new position in shares of CoastalSouth Bancshares in the third quarter worth $67,000. Rhumbline Advisers bought a new position in shares of CoastalSouth Bancshares in the third quarter worth $91,000. ELCO Management Co. LLC bought a new stake in shares of CoastalSouth Bancshares during the 3rd quarter valued at $242,000. Finally, Vanguard Group Inc. bought a new stake in shares of CoastalSouth Bancshares during the 3rd quarter valued at $3,212,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CoastalSouth Bancshares in a report on Thursday, January 22nd. Wall Street Zen raised shares of CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Zacks Research upgraded shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a research note on Friday, January 2nd. Finally, 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. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.00.

CoastalSouth Bancshares Stock Down 1.1%

COSO opened at $25.09 on Thursday. The company has a fifty day moving average price of $24.14. CoastalSouth Bancshares, Inc. has a 52 week low of $19.24 and a 52 week high of $26.29. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $300.58 million and a PE ratio of 14.85.

CoastalSouth Bancshares (NYSE:COSO) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.58 earnings per share (EPS) 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 analysts’ expectations of $22.30 million.

CoastalSouth Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $0.20 annualized dividend and a yield of 0.8%. CoastalSouth Bancshares’s dividend payout ratio is currently 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.