Stieven Capital Advisors L.P. Cuts Stock Position in Coastal Financial Corporation (NASDAQ:CCB)

Stieven Capital Advisors L.P. trimmed its stake in shares of Coastal Financial Corporation (NASDAQ:CCB - Free Report) by 13.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 88,471 shares of the company's stock after selling 13,742 shares during the quarter. Stieven Capital Advisors L.P. owned about 0.59% of Coastal Financial worth $7,999,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CCB. Tower Research Capital LLC TRC raised its position in Coastal Financial by 179.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock valued at $61,000 after purchasing an additional 461 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Coastal Financial in the fourth quarter worth approximately $64,000. Ameriflex Group Inc. bought a new position in Coastal Financial in the fourth quarter worth approximately $172,000. KLP Kapitalforvaltning AS bought a new position in shares of Coastal Financial in the fourth quarter valued at approximately $178,000. Finally, Pictet Asset Management Holding SA bought a new stake in Coastal Financial during the fourth quarter worth $214,000. 59.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coastal Financial

In other news, CFO Joel G. Edwards sold 3,128 shares of the business's stock in a transaction dated 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 owned 41,387 shares of the company's stock, valued at approximately $3,660,266.28. The trade was a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 14.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on CCB shares. Hovde Group decreased their target price on Coastal Financial from $120.00 to $110.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Stephens reiterated an "overweight" rating and issued a $100.00 price target on shares of Coastal Financial in a research 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 for the company in a research report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods lifted their price target on Coastal Financial from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday.

Coastal Financial Price Performance

Coastal Financial stock traded down $5.12 during midday trading on Tuesday, hitting $97.28. 153,117 shares of the company's stock were exchanged, compared to its average volume of 103,551. Coastal Financial Corporation has a 52-week low of $45.92 and a 52-week high of $106.38. The stock has a 50-day moving average price of $90.12 and a two-hundred day moving average price of $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. 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 issued its quarterly earnings results 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 firm had revenue of $139.54 million for the quarter, compared to the consensus estimate of $158.65 million. On average, equities research analysts forecast that Coastal Financial Corporation will post 4.59 earnings per share for the current year.

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.