Emerald Mutual Fund Advisers Trust Acquires 5,869 Shares of Coastal Financial Corporation (NASDAQ:CCB)

Emerald Mutual Fund Advisers Trust grew its position in Coastal Financial Corporation (NASDAQ:CCB - Free Report) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 0.43% of Coastal Financial worth $5,865,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its stake in Coastal Financial by 47.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,322,325 shares of the company's stock worth $112,279,000 after purchasing an additional 423,864 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Coastal Financial by 1,067.9% in the 4th quarter. Wellington Management Group LLP now owns 456,887 shares of the company's stock valued at $38,794,000 after purchasing an additional 417,767 shares during the last quarter. Azora Capital LP purchased a new stake in shares of Coastal Financial in the 4th quarter valued at about $33,794,000. Peregrine Capital Management LLC purchased a new stake in shares of Coastal Financial in the 1st quarter valued at about $10,180,000. Finally, Driehaus Capital Management LLC purchased a new stake in Coastal Financial during the 4th quarter valued at approximately $8,170,000. 59.24% of the stock is owned by institutional investors and hedge funds.

Coastal Financial Price Performance

Shares of NASDAQ CCB traded down $5.12 during trading on Tuesday, hitting $97.28. The company had a trading volume of 153,117 shares, compared to its average volume of 103,551. The business's 50-day moving average is $90.12 and its 200 day moving average is $87.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.04 and a current ratio of 1.06. Coastal Financial Corporation has a 52 week low of $45.92 and a 52 week high of $106.38. The company has a market cap of $1.46 billion, a P/E ratio of 28.78 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 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $158.65 million. Equities research analysts predict 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 company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $88.44, for a total transaction of $276,640.32. Following the completion of the sale, the chief financial officer directly owned 41,387 shares in the company, valued at $3,660,266.28. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 14.10% of the company's stock.

Analyst Upgrades and Downgrades

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