Emerald Mutual Fund Advisers Trust Grows Stock Holdings in Coastal Financial Corporation (NASDAQ:CCB)

Emerald Mutual Fund Advisers Trust increased its position in shares of Coastal Financial Corporation (NASDAQ:CCB - Free Report) by 9.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,873 shares of the company's stock after buying an additional 5,869 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.43% of Coastal Financial worth $5,865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Coastal Financial by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 92,959 shares of the company's stock worth $7,893,000 after buying an additional 952 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Coastal Financial during the fourth quarter worth about $1,139,000. Arizona State Retirement System acquired a new stake in shares of Coastal Financial during the fourth quarter worth about $282,000. Raymond James Financial Inc. acquired a new stake in shares of Coastal Financial during the fourth quarter worth about $532,000. Finally, Swiss National Bank boosted its stake in shares of Coastal Financial by 16.6% during the fourth quarter. Swiss National Bank now owns 25,965 shares of the company's stock worth $2,205,000 after buying an additional 3,700 shares during the period. Hedge funds and other institutional investors own 59.24% of the company's stock.

Coastal Financial Stock Performance

NASDAQ:CCB traded down $0.40 during mid-day trading on Friday, reaching $101.56. The stock had a trading volume of 107,424 shares, compared to its average volume of 103,268. Coastal Financial Corporation has a twelve month low of $45.92 and a twelve month high of $106.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.04 and a current ratio of 1.06. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 30.05 and a beta of 0.96. The business has a 50 day simple moving average of $90.12 and a 200 day simple moving average of $87.54.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its 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). Coastal Financial had a net margin of 6.94% and a return on equity of 12.53%. The company had revenue of $139.54 million during the quarter, compared to analysts' expectations of $158.65 million. On average, analysts expect that Coastal Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Insider Transactions at Coastal Financial

In other Coastal Financial news, CFO Joel G. Edwards sold 3,128 shares of the stock in a transaction dated Friday, May 16th. The shares were 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 directly owned 41,387 shares of the company's stock, valued at approximately $3,660,266.28. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory A. Tisdel sold 1,600 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $79.07, for a total transaction of $126,512.00. Following the transaction, the director directly owned 14,006 shares of the company's stock, valued at approximately $1,107,454.42. This trade represents a 10.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 14.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCB. Stephens reiterated an "overweight" rating and set a $100.00 target price on shares of Coastal Financial in a research note on Tuesday, March 18th. Hovde Group reduced their price objective on shares of Coastal Financial from $120.00 to $110.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Raymond James Financial 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 report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Coastal Financial from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday.

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.