Piper Sandler Issues Positive Forecast for CoastalSouth Bancshares (NYSE:COSO) Stock Price

CoastalSouth Bancshares (NYSE:COSO) had its price objective raised by Piper Sandler from $27.00 to $29.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

COSO has been the topic of several other research reports. Weiss Ratings restated a “buy (b)” rating on shares of CoastalSouth Bancshares in a research report on Thursday, January 22nd. Zacks Research raised CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Finally, Wall Street Zen upgraded shares of CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

CoastalSouth Bancshares Stock Down 0.4%

COSO stock opened at $25.20 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $23.70. CoastalSouth Bancshares has a twelve month low of $19.24 and a twelve month high of $25.90. The company has a market capitalization of $301.90 million and a price-to-earnings ratio of 14.91.

CoastalSouth Bancshares (NYSE:COSO) last announced its 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 firm had revenue of $22.16 million during the quarter, compared to analysts’ expectations of $22.30 million.

CoastalSouth Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $0.20 annualized dividend and a yield of 0.8%.

Institutional Investors Weigh In On CoastalSouth Bancshares

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

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.