Bleakley Financial Group LLC Makes New Investment in CoastalSouth Bancshares, Inc. $COSO

Bleakley Financial Group LLC bought a new stake in shares of CoastalSouth Bancshares, Inc. (NYSE:COSO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 88,094 shares of the company’s stock, valued at approximately $1,921,000. Bleakley Financial Group LLC owned approximately 0.74% of CoastalSouth Bancshares at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on COSO. Piper Sandler raised their target price on shares of CoastalSouth Bancshares from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Weiss Ratings reissued a “buy (b)” rating on shares of CoastalSouth Bancshares in a research report on Thursday, January 22nd. Wall Street Zen upgraded CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Zacks Research raised CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a research report on Friday, January 2nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, CoastalSouth Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

CoastalSouth Bancshares Price Performance

NYSE COSO opened at $25.07 on Tuesday. The firm has a market cap of $300.34 million and a P/E ratio of 14.83. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.92. The firm has a fifty day moving average price of $24.21. CoastalSouth Bancshares, Inc. has a 1 year low of $19.24 and a 1 year high of $26.29.

CoastalSouth Bancshares (NYSE:COSO) last posted 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 business had revenue of $22.16 million during the quarter, compared to analyst estimates of $22.30 million.

CoastalSouth Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, February 12th. CoastalSouth Bancshares’s dividend payout ratio is 11.83%.

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.