Mendon Capital Advisors Corp Purchases 63,955 Shares of CoastalSouth Bancshares, Inc. $COSO

Mendon Capital Advisors Corp increased its position in CoastalSouth Bancshares, Inc. (NYSE:COSO) by 24.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,743 shares of the company’s stock after purchasing an additional 63,955 shares during the period. CoastalSouth Bancshares accounts for 2.4% of Mendon Capital Advisors Corp’s portfolio, making the stock its 13th biggest position. Mendon Capital Advisors Corp owned approximately 2.74% of CoastalSouth Bancshares worth $8,108,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. North Reef Capital Management LP boosted its holdings in shares of CoastalSouth Bancshares by 21.6% during the 1st quarter. North Reef Capital Management LP now owns 320,982 shares of the company’s stock valued at $7,893,000 after buying an additional 57,082 shares in the last quarter. Sei Investments Co. grew its holdings in CoastalSouth Bancshares by 61.5% in the first quarter. Sei Investments Co. now owns 21,672 shares of the company’s stock worth $533,000 after purchasing an additional 8,249 shares during the period. Patriot Financial Partners GP II L.P. lifted its holdings in shares of CoastalSouth Bancshares by 61.2% during the first quarter. Patriot Financial Partners GP II L.P. now owns 1,159,211 shares of the company’s stock valued at $28,505,000 after purchasing an additional 440,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CoastalSouth Bancshares by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 20,591 shares of the company’s stock valued at $506,000 after purchasing an additional 503 shares during the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of CoastalSouth Bancshares by 1.2% in the 1st quarter. HB Wealth Management LLC now owns 38,643 shares of the company’s stock worth $950,000 after purchasing an additional 459 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler lifted their price objective on CoastalSouth Bancshares from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Weiss Ratings restated 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.00.

Insider Activity

In related news, CFO Anthony P. Valduga sold 4,558 shares of CoastalSouth Bancshares stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $25.84, for a total value of $117,778.72. Following the completion of the sale, the chief financial officer owned 86,115 shares of the company’s stock, valued at $2,225,211.60. The trade was a 5.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.11% of the stock is currently owned by company insiders.

CoastalSouth Bancshares Trading Down 0.0%

CoastalSouth Bancshares stock opened at $27.08 on Monday. CoastalSouth Bancshares, Inc. has a 12 month low of $19.24 and a 12 month high of $28.02. The stock has a fifty day simple moving average of $26.38 and a two-hundred day simple moving average of $25.29. The firm has a market cap of $326.04 million and a price-to-earnings ratio of 12.20.

CoastalSouth Bancshares (NYSE:COSO) last announced its quarterly earnings results on Monday, July 20th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). CoastalSouth Bancshares had a net margin of 19.59% and a return on equity of 10.69%. The business had revenue of $22.87 million for the quarter. On average, equities research analysts forecast that CoastalSouth Bancshares, Inc. will post 2.42 EPS for the current fiscal year.

CoastalSouth Bancshares Dividend Announcement

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

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.