Coastal Financial Co. (NASDAQ:CCB) Shares Acquired by Boothbay Fund Management LLC

Boothbay Fund Management LLC increased its position in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 18.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,130 shares of the company's stock after acquiring an additional 18,705 shares during the quarter. Boothbay Fund Management LLC owned approximately 0.90% of Coastal Financial worth $10,370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its position in shares of Coastal Financial by 47.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,322,325 shares of the company's stock valued at $112,279,000 after acquiring an additional 423,864 shares during the last quarter. Vanguard Group Inc. raised its holdings in Coastal Financial by 11.4% in the 4th quarter. Vanguard Group Inc. now owns 685,385 shares of the company's stock valued at $58,196,000 after buying an additional 70,272 shares during the period. Wellington Management Group LLP increased its stake in Coastal Financial by 1,067.9% during the fourth quarter. Wellington Management Group LLP now owns 456,887 shares of the company's stock worth $38,794,000 after purchasing an additional 417,767 shares during the period. Kennedy Capital Management LLC increased its stake in Coastal Financial by 38.6% during the fourth quarter. Kennedy Capital Management LLC now owns 299,456 shares of the company's stock worth $25,427,000 after purchasing an additional 83,331 shares during the period. Finally, American Century Companies Inc. increased its stake in Coastal Financial by 1.0% during the fourth quarter. American Century Companies Inc. now owns 157,238 shares of the company's stock worth $13,351,000 after purchasing an additional 1,511 shares during the period. Institutional investors and hedge funds own 59.24% of the company's stock.

Coastal Financial Stock Down 1.3 %

Shares of CCB stock traded down $1.04 during trading hours on Thursday, reaching $81.12. 51,078 shares of the stock were exchanged, compared to its average volume of 91,387. The business's fifty day moving average is $86.18 and its two-hundred day moving average is $81.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. Coastal Financial Co. has a 12-month low of $38.80 and a 12-month high of $102.25. The firm has a market capitalization of $1.22 billion, a P/E ratio of 24.96 and a beta of 1.00.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.30). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. The company had revenue of $139.54 million for the quarter, compared to analyst estimates of $158.65 million. As a group, research analysts expect that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on CCB shares. Raymond James cut their price target on shares of Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods cut their target price on shares of Coastal Financial from $114.00 to $110.00 and set an "outperform" rating on the stock in a research note on Wednesday. Hovde Group cut their target price on shares of Coastal Financial from $120.00 to $110.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Stephens restated an "overweight" rating and set a $100.00 target price on shares of Coastal Financial in a research note on Tuesday, March 18th.

Insider Activity at Coastal Financial

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of Coastal Financial stock in a transaction on Monday, April 14th. The shares were sold at an average price of $79.07, for a total value of $126,512.00. Following the transaction, the director now directly owns 14,006 shares in the company, valued at approximately $1,107,454.42. The trade was a 10.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.82% of the stock is owned by corporate insiders.

About Coastal Financial

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small and medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts.