CoastalSouth Bancshares, Inc. (NYSE:COSO) Sees Significant Growth in Short Interest
by Doug Wharley · The Cerbat GemCoastalSouth Bancshares, Inc. (NYSE:COSO – Get Free Report) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 79,795 shares, an increase of 59.1% from the February 26th total of 50,140 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average trading volume of 67,215 shares, the short-interest ratio is presently 1.2 days.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of CoastalSouth Bancshares in a research report on Thursday, January 22nd. Zacks Research upgraded shares of CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a research report on Friday, January 2nd. Piper Sandler increased their target price on CoastalSouth Bancshares from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, Wall Street Zen raised CoastalSouth Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Two 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 an average rating of “Moderate Buy” and an average price target of $29.00.
Read Our Latest Stock Analysis on COSO
CoastalSouth Bancshares Stock Performance
Shares of NYSE COSO traded down $0.03 during mid-day trading on Friday, reaching $24.14. The company had a trading volume of 38,276 shares, compared to its average volume of 104,493. The business has a fifty day simple moving average of $24.47. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $286.00 million and a P/E ratio of 14.28. CoastalSouth Bancshares has a 12-month low of $19.24 and a 12-month high of $26.29.
CoastalSouth Bancshares (NYSE:COSO – Get Free Report) last announced its quarterly earnings data 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 business also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. CoastalSouth Bancshares’s dividend payout ratio (DPR) is 11.83%.
Hedge Funds Weigh In On CoastalSouth Bancshares
A number of hedge funds have recently modified their holdings of COSO. Quadrature Capital Ltd purchased a new stake in shares of CoastalSouth Bancshares during the fourth quarter worth $241,000. North Reef Capital Management LP grew its stake in CoastalSouth Bancshares by 19.6% in the fourth quarter. North Reef Capital Management LP now owns 263,900 shares of the company’s stock valued at $6,136,000 after purchasing an additional 43,281 shares in the last quarter. Barclays PLC increased its position in CoastalSouth Bancshares by 82.0% in the 4th quarter. Barclays PLC now owns 11,971 shares of the company’s stock worth $278,000 after purchasing an additional 5,392 shares during the last quarter. Marshall Wace LLP acquired a new position in CoastalSouth Bancshares in the 4th quarter worth about $1,220,000. Finally, Fourthstone LLC raised its stake in shares of CoastalSouth Bancshares by 153.8% during the 4th quarter. Fourthstone LLC now owns 959,797 shares of the company’s stock worth $22,315,000 after purchasing an additional 581,656 shares in the last quarter.
CoastalSouth Bancshares Company 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.