12,619 Shares in Coastal Financial Corporation (NASDAQ:CCB) Bought by Arcus Capital Partners LLC

Arcus Capital Partners LLC bought a new position in shares of Coastal Financial Corporation (NASDAQ:CCB - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 12,619 shares of the company's stock, valued at approximately $1,141,000. Arcus Capital Partners LLC owned 0.08% of Coastal Financial at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in shares of Coastal Financial by 179.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock worth $61,000 after acquiring an additional 461 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Coastal Financial in the 4th quarter worth approximately $64,000. Ameriflex Group Inc. acquired a new stake in shares of Coastal Financial in the 4th quarter worth approximately $172,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Coastal Financial in the 4th quarter worth approximately $178,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Coastal Financial in the 4th quarter worth approximately $214,000. Institutional investors and hedge funds own 59.24% of the company's stock.

Insider Buying and Selling at Coastal Financial

In other news, CFO Joel G. Edwards sold 3,128 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $88.44, for a total transaction of $276,640.32. Following the sale, the chief financial officer owned 41,387 shares in the company, valued at $3,660,266.28. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory A. Tisdel sold 1,600 shares of the firm's stock in a transaction 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 owned 14,006 shares in the company, valued at $1,107,454.42. This trade represents a 10.25% decrease in their position. The disclosure for this sale can be found here. 14.10% of the stock is owned by company insiders.

Coastal Financial Price Performance

NASDAQ:CCB traded down $0.40 during trading hours on Friday, reaching $101.56. 107,424 shares of the company traded hands, compared to its average volume of 103,268. The firm's 50-day moving average is $90.12 and its 200-day moving average is $87.56. The stock has a market cap of $1.53 billion, a P/E ratio of 30.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 1.04. Coastal Financial Corporation has a 1-year low of $45.92 and a 1-year high of $106.38.

Coastal Financial (NASDAQ:CCB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.30). Coastal Financial had a return on equity of 12.53% and a net margin of 6.94%. The business had revenue of $139.54 million for the quarter, compared to analyst estimates of $158.65 million. Equities research analysts expect that Coastal Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CCB. Stephens reiterated an "overweight" rating and set a $100.00 target price on shares of Coastal Financial in a report on Tuesday, March 18th. Raymond James Financial lowered their target price on Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 30th. Hovde Group lowered their target price on Coastal Financial from $120.00 to $110.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods increased their target price on Coastal Financial from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Friday.

Coastal Financial 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.