88,094 Shares in CoastalSouth Bancshares, Inc. $COSO Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC bought a new stake in shares of CoastalSouth Bancshares, Inc. (NYSE:COSO) in the third quarter, Holdings Channel reports. The fund bought 88,094 shares of the company’s stock, valued at approximately $1,921,000.

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

CoastalSouth Bancshares Stock Performance

NYSE:COSO opened at $25.07 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.80. The firm has a market capitalization of $300.34 million and a PE ratio of 14.83. CoastalSouth Bancshares, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $26.29. The business’s fifty day moving average is $24.21.

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

CoastalSouth Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, February 12th. CoastalSouth Bancshares’s dividend payout ratio (DPR) is 11.83%.

Wall Street Analysts Forecast Growth

COSO has been the subject of several recent research reports. Wall Street Zen raised shares of CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Zacks Research raised shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of CoastalSouth Bancshares in a research note on Thursday, January 22nd. Finally, Piper Sandler raised their target price on CoastalSouth Bancshares from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, February 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 data from MarketBeat.com, CoastalSouth Bancshares presently has a consensus rating of “Moderate Buy” and an average target price 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.