CoastalSouth Bancshares, Inc. $COSO Stock Holdings Lessened by Banc Funds Co. LLC

Banc Funds Co. LLC cut its holdings in CoastalSouth Bancshares, Inc. (NYSE:COSO) by 65.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 85,715 shares of the company’s stock after selling 161,890 shares during the period. Banc Funds Co. LLC’s holdings in CoastalSouth Bancshares were worth $1,869,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. New York State Common Retirement Fund acquired a new stake in CoastalSouth Bancshares during the third quarter worth about $41,000. ELCO Management Co. LLC acquired a new position in CoastalSouth Bancshares in the third quarter valued at approximately $242,000. Rhumbline Advisers acquired a new position in CoastalSouth Bancshares in the third quarter valued at approximately $91,000. JPMorgan Chase & Co. bought a new position in shares of CoastalSouth Bancshares during the third quarter valued at approximately $67,000. Finally, Vanguard Group Inc. acquired a new stake in shares of CoastalSouth Bancshares during the 3rd quarter worth approximately $3,212,000.

CoastalSouth Bancshares Stock Performance

Shares of NYSE COSO opened at $23.93 on Friday. CoastalSouth Bancshares, Inc. has a 1 year low of $19.24 and a 1 year high of $26.29. The company has a market cap of $286.68 million and a price-to-earnings ratio of 14.16. The firm’s fifty day moving average price is $24.35. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10.

CoastalSouth Bancshares (NYSE:COSO) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.04). The business had revenue of $22.16 million for the quarter, compared to the consensus estimate of $22.30 million.

CoastalSouth Bancshares Announces Dividend

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

Analysts Set New Price Targets

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

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.