Coastal Financial Corporation (NASDAQ:CCB) is Riverwater Partners LLC's 10th Largest Position

Riverwater Partners LLC trimmed its stake in Coastal Financial Corporation (NASDAQ:CCB - Free Report) by 18.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 29,859 shares of the company's stock after selling 6,830 shares during the period. Coastal Financial comprises 1.4% of Riverwater Partners LLC's investment portfolio, making the stock its 10th biggest holding. Riverwater Partners LLC owned approximately 0.20% of Coastal Financial worth $2,700,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCB. Tower Research Capital LLC TRC lifted its holdings in Coastal Financial by 179.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock worth $61,000 after buying an additional 461 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Coastal Financial in the 4th quarter valued at about $64,000. New York State Teachers Retirement System purchased a new stake in Coastal Financial in the fourth quarter valued at approximately $87,000. Ameriflex Group Inc. purchased a new position in shares of Coastal Financial during the fourth quarter worth approximately $172,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Coastal Financial in the 4th quarter valued at $178,000. Hedge funds and other institutional investors own 59.24% of the company's stock.

Insider Activity at Coastal Financial

In other news, CFO Joel G. Edwards sold 3,128 shares of the business's 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 transaction, the chief financial officer now directly owns 41,387 shares of the company's stock, valued at $3,660,266.28. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gregory A. Tisdel sold 1,600 shares of the company's 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 completion of the sale, the director now owns 14,006 shares in the company, valued at $1,107,454.42. This represents a 10.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CCB has been the topic of several recent research reports. Keefe, Bruyette & Woods dropped their price target on Coastal Financial from $114.00 to $110.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Raymond James Financial cut their price target on Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 30th. Stephens reaffirmed an "overweight" rating and set a $100.00 price target on shares of Coastal Financial in a report on Tuesday, March 18th. Finally, Hovde Group dropped their price objective 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, April 30th.

Coastal Financial Stock Up 1.0%

Shares of NASDAQ CCB opened at $83.11 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $85.35 and a 200 day moving average price of $85.38. Coastal Financial Corporation has a 52 week low of $43.01 and a 52 week high of $102.25. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 24.59 and a beta of 0.96.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.