North Reef Capital Management LP Buys 57,082 Shares of CoastalSouth Bancshares, Inc. $COSO

North Reef Capital Management LP raised its stake in CoastalSouth Bancshares, Inc. (NYSE:COSO) by 21.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 320,982 shares of the company’s stock after acquiring an additional 57,082 shares during the period. North Reef Capital Management LP’s holdings in CoastalSouth Bancshares were worth $7,893,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. HB Wealth Management LLC increased its stake in shares of CoastalSouth Bancshares by 1.2% in the first quarter. HB Wealth Management LLC now owns 38,643 shares of the company’s stock worth $950,000 after buying an additional 459 shares during the period. Bank of New York Mellon Corp raised its holdings in CoastalSouth Bancshares by 2.5% during the 1st quarter. Bank of New York Mellon Corp now owns 20,591 shares of the company’s stock valued at $506,000 after buying an additional 503 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in CoastalSouth Bancshares during the 4th quarter valued at $40,000. Charles Schwab Investment Management Inc. boosted its position in CoastalSouth Bancshares by 11.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,362 shares of the company’s stock valued at $404,000 after buying an additional 1,780 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in CoastalSouth Bancshares in the 3rd quarter worth $47,000.

Insider Activity at CoastalSouth Bancshares

In other news, CFO Anthony P. Valduga sold 4,558 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $25.84, for a total transaction of $117,778.72. Following the sale, the chief financial officer 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 15.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “buy (b+)” rating on shares of CoastalSouth Bancshares in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

CoastalSouth Bancshares Stock Up 1.7%

COSO opened at $27.08 on Friday. The stock has a market cap of $326.04 million and a PE ratio of 12.20. The business has a 50 day moving average of $26.38 and a 200-day moving average of $25.27. CoastalSouth Bancshares, Inc. has a 52 week low of $19.24 and a 52 week high of $28.02.

CoastalSouth Bancshares (NYSE:COSO) last released its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). The firm had revenue of $22.87 million for the quarter. CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.69%. Equities analysts anticipate that CoastalSouth Bancshares, Inc. will post 2.42 EPS for the current year.

CoastalSouth Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.20 annualized dividend and a yield of 0.7%. CoastalSouth Bancshares’s dividend payout ratio (DPR) is currently 9.01%.

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.