Arcus Capital Partners LLC Buys New Shares in Coastal Financial Corporation (NASDAQ:CCB)

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

Several other institutional investors and hedge funds have also bought and sold shares of CCB. Rhumbline Advisers lifted its stake in shares of Coastal Financial by 8.2% in the 1st quarter. Rhumbline Advisers now owns 16,700 shares of the company's stock valued at $1,510,000 after purchasing an additional 1,262 shares during the period. GAMMA Investing LLC lifted its stake in shares of Coastal Financial by 50,271.4% in the 1st quarter. GAMMA Investing LLC now owns 3,526 shares of the company's stock valued at $319,000 after purchasing an additional 3,519 shares during the period. Legal & General Group Plc lifted its stake in shares of Coastal Financial by 9.2% in the 4th quarter. Legal & General Group Plc now owns 11,643 shares of the company's stock valued at $989,000 after purchasing an additional 984 shares during the period. Bank of America Corp DE lifted its stake in shares of Coastal Financial by 9.7% in the 4th quarter. Bank of America Corp DE now owns 16,742 shares of the company's stock valued at $1,422,000 after purchasing an additional 1,478 shares during the period. Finally, Swiss National Bank increased its position in Coastal Financial by 16.6% during the 4th quarter. Swiss National Bank now owns 25,965 shares of the company's stock valued at $2,205,000 after buying an additional 3,700 shares in the last quarter. Hedge funds and other institutional investors own 59.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CCB shares. Stephens reaffirmed an "overweight" rating and set a $100.00 price objective on shares of Coastal Financial in a research report on Tuesday, March 18th. Hovde Group reduced their target price on Coastal Financial from $120.00 to $110.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Keefe, Bruyette & Woods lifted their target price on Coastal Financial from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Raymond James Financial reduced their target price on Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 30th.

Coastal Financial Stock Down 0.4%

Shares of Coastal Financial stock traded down $0.40 on Friday, reaching $101.56. The company's stock had a trading volume of 107,424 shares, compared to its average volume of 103,268. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 30.05 and a beta of 0.96. The firm's fifty day simple moving average is $90.12 and its two-hundred day simple moving average is $87.54. Coastal Financial Corporation has a 52 week low of $45.92 and a 52 week high of $106.38. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.11.

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 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 firm had revenue of $139.54 million during the quarter, compared to the consensus estimate of $158.65 million. Equities analysts anticipate that Coastal Financial Corporation will post 4.59 earnings per share for the current year.

Insider Buying and Selling at Coastal Financial

In related news, Director Gregory A. Tisdel sold 1,600 shares of Coastal Financial 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 completion of the sale, the director owned 14,006 shares of the company's stock, valued at $1,107,454.42. The trade was a 10.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joel G. Edwards sold 3,128 shares of Coastal Financial stock in a transaction on Friday, May 16th. The stock was sold at an average price of $88.44, for a total value of $276,640.32. Following the completion of the sale, the chief financial officer directly owned 41,387 shares of the company's stock, valued at $3,660,266.28. The trade was a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders own 14.10% of the company's stock.

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.