Emerald Mutual Fund Advisers Trust Buys 48,994 Shares of Coastal Financial Co. (NASDAQ:CCB)

Emerald Mutual Fund Advisers Trust lifted its position in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 489.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,004 shares of the company's stock after buying an additional 48,994 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.44% of Coastal Financial worth $5,010,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CCB. Tower Research Capital LLC TRC increased its position in Coastal Financial by 179.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock valued at $61,000 after acquiring an additional 461 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Coastal Financial in the fourth quarter worth approximately $64,000. New York State Teachers Retirement System bought a new stake in Coastal Financial during the fourth quarter valued at approximately $87,000. USA Financial Formulas purchased a new stake in Coastal Financial during the fourth quarter valued at approximately $122,000. Finally, KLP Kapitalforvaltning AS bought a new position in Coastal Financial in the fourth quarter worth approximately $178,000. Hedge funds and other institutional investors own 59.24% of the company's stock.

Insider Activity

In other news, Director Gregory A. Tisdel sold 1,600 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $79.07, for a total value of $126,512.00. Following the sale, the director now directly owns 14,006 shares in the company, valued at approximately $1,107,454.42. This represents a 10.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods decreased their target price on Coastal Financial from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Wednesday. Stephens reissued an "overweight" rating and issued a $100.00 target price on shares of Coastal Financial in a report on Tuesday, March 18th. Hovde Group lowered their price target on shares of Coastal Financial from $120.00 to $110.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, Raymond James reduced their price objective on shares of Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating for the company in a research note on Wednesday.

Coastal Financial Price Performance

Coastal Financial stock traded up $1.04 during midday trading on Friday, reaching $81.34. 95,644 shares of the stock traded hands, compared to its average volume of 92,052. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial Co. has a 12 month low of $40.43 and a 12 month high of $102.25. The stock's fifty day moving average is $85.97 and its 200-day moving average is $81.16. The stock has a market cap of $1.22 billion, a P/E ratio of 25.03 and a beta of 1.00.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.63 EPS 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 business had revenue of $139.54 million during the quarter, compared to analysts' expectations of $158.65 million. As a group, equities research analysts anticipate that Coastal Financial Co. will post 4.59 EPS for the current year.

Coastal Financial Company Profile

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.