CoastalSouth Bancshares (NYSE:COSO) Price Target Raised to $29.00

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

Several other research analysts have also recently issued reports on COSO. Wall Street Zen raised CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings restated a “buy (b)” rating on shares of CoastalSouth Bancshares in a research note on Thursday, January 22nd. Finally, Zacks Research raised CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, CoastalSouth Bancshares presently has an average rating of “Moderate Buy” and an average target price of $29.00.

CoastalSouth Bancshares Stock Performance

CoastalSouth Bancshares stock opened at $25.45 on Thursday. CoastalSouth Bancshares has a 1 year low of $19.24 and a 1 year high of $25.90. The company has a fifty day moving average of $23.76. The firm has a market cap of $304.89 million and a PE ratio of 15.06. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

CoastalSouth Bancshares (NYSE:COSO) last issued its earnings results on Tuesday, January 20th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates 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 Announces Dividend

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 issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, February 12th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in COSO. Patriot Financial Partners GP II L.P. purchased a new stake in CoastalSouth Bancshares in the third quarter valued at approximately $24,256,000. EJF Capital LLC acquired a new position in shares of CoastalSouth Bancshares in the 3rd quarter valued at $20,287,000. Alliancebernstein L.P. purchased a new stake in CoastalSouth Bancshares in the 3rd quarter valued at $10,972,000. Azora Capital LP purchased a new stake in CoastalSouth Bancshares in the 3rd quarter valued at $8,704,000. Finally, Endeavour Capital Advisors Inc. acquired a new stake in CoastalSouth Bancshares during the 3rd quarter worth $7,349,000.

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.