Stieven Capital Advisors L.P. Sells 22,600 Shares of Coastal Financial Corporation $CCB

Key Points

• Stieven Capital Advisors trimmed its position in Coastal Financial (NASDAQ:CCB) by 25.5%, selling 22,600 shares and leaving 65,971 shares (about 0.44% of the company) valued at roughly $7.14 million — CCB represents ~1.3% of Stieven's portfolio (its 29th largest holding).
• Coastal posted a quarterly miss, reporting EPS $0.82 vs. $1.16 expected and revenue of $56.49M vs. $140.81M consensus; the stock has a $1.17B market cap, PE of 25.3 and a 12‑month range of $70.72–$120.05.
• Several institutions opened or increased positions (including Lisanti, D.A. Davidson and Ranger), institutional ownership stands at 59.24%, while insiders have sold 53,185 shares over the past 90 days (including recent CEO and CFO sales), with insiders owning 14.10%.

Stieven Capital Advisors L.P. reduced its stake in Coastal Financial Corporation (NASDAQ:CCB - Free Report) by 25.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,971 shares of the company's stock after selling 22,600 shares during the quarter. Coastal Financial comprises approximately 1.3% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 29th biggest holding. Stieven Capital Advisors L.P. owned approximately 0.44% of Coastal Financial worth $7,136,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Lisanti Capital Growth LLC purchased a new stake in shares of Coastal Financial during the 3rd quarter valued at $3,533,000. D.A. Davidson & CO. purchased a new position in Coastal Financial in the third quarter worth $13,580,000. Ranger Investment Management L.P. purchased a new position in Coastal Financial in the third quarter worth $16,895,000. American Century Companies Inc. increased its stake in Coastal Financial by 5.9% in the third quarter. American Century Companies Inc. now owns 510,549 shares of the company's stock valued at $55,226,000 after acquiring an additional 28,616 shares during the last quarter. Finally, Azora Capital LP increased its stake in Coastal Financial by 26.4% in the second quarter. Azora Capital LP now owns 751,098 shares of the company's stock valued at $72,759,000 after acquiring an additional 156,956 shares during the last quarter. 59.24% of the stock is currently owned by institutional investors.

Coastal Financial Stock Performance

Coastal Financial stock opened at $76.92 on Friday. The firm has a fifty day simple moving average of $93.70 and a two-hundred day simple moving average of $104.61. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. Coastal Financial Corporation has a twelve month low of $70.72 and a twelve month high of $120.05. The company has a market capitalization of $1.17 billion, a PE ratio of 25.30 and a beta of 0.86.

Coastal Financial (NASDAQ:CCB - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.34). The company had revenue of $56.49 million for the quarter, compared to the consensus estimate of $140.81 million. Coastal Financial had a net margin of 7.11% and a return on equity of 10.01%. Research analysts expect that Coastal Financial Corporation will post 4.59 EPS for the current year.

Insider Activity

In other Coastal Financial news, CEO Eric M. Sprink sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $116.01, for a total value of $464,040.00. Following the completion of the sale, the chief executive officer owned 159,126 shares in the company, valued at approximately $18,460,207.26. The trade was a 2.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joel G. Edwards sold 1,300 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $111.34, for a total value of $144,742.00. Following the sale, the chief financial officer directly owned 11,462 shares of the company's stock, valued at approximately $1,276,179.08. This trade represents a 10.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,185 shares of company stock valued at $6,127,817 over the last 90 days. 14.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings lowered Coastal Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 2nd. Hovde Group reduced their price objective on Coastal Financial from $140.00 to $133.00 and set an "outperform" rating on the stock in a research report on Friday, January 30th. Wall Street Zen raised Coastal Financial from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. UBS Group set a $155.00 target price on Coastal Financial in a research report on Friday, December 5th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Coastal Financial in a research note on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.00.

About Coastal Financial

Coastal Financial Corporation is a bank holding company whose principal subsidiary, Coastal Community Bank, provides a full range of community banking services to clients along North Carolina's central and eastern coastline. The company focuses on delivering personalized relationship banking to individuals, small businesses, and local professionals in seaside and inland communities.

Through Coastal Community Bank, Coastal Financial offers deposit products including checking, savings, money market accounts and certificates of deposit.

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