JCSD Capital LLC Trims Position in Coastal Financial Corporation $CCB

JCSD Capital LLC cut its stake in shares of Coastal Financial Corporation (NASDAQ:CCB) by 10.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,040 shares of the company’s stock after selling 15,000 shares during the quarter. Coastal Financial accounts for about 17.5% of JCSD Capital LLC’s investment portfolio, making the stock its 2nd largest holding. JCSD Capital LLC owned approximately 0.85% of Coastal Financial worth $14,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CCB. State of Alaska Department of Revenue purchased a new position in Coastal Financial during the 3rd quarter valued at about $64,000. Russell Investments Group Ltd. lifted its holdings in Coastal Financial by 229.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock worth $80,000 after buying an additional 576 shares during the period. First Horizon Corp purchased a new stake in Coastal Financial in the 3rd quarter worth approximately $122,000. Tower Research Capital LLC TRC grew its position in shares of Coastal Financial by 521.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock worth $122,000 after buying an additional 1,059 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Coastal Financial during the fourth quarter valued at approximately $212,000. 59.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CCB has been the subject of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and issued a $110.00 price target on shares of Coastal Financial in a research note on Friday, May 1st. Hovde Group cut their target price on shares of Coastal Financial from $140.00 to $133.00 and set an “outperform” rating on the stock in a research note on Friday, January 30th. Zacks Research cut shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. TD Cowen lowered their price objective on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Finally, Wall Street Zen cut Coastal Financial from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.60.

Coastal Financial Stock Up 2.2%

Shares of NASDAQ:CCB opened at $69.71 on Friday. The stock has a fifty day simple moving average of $77.86 and a two-hundred day simple moving average of $94.89. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 21.85 and a beta of 0.76. Coastal Financial Corporation has a 12-month low of $66.50 and a 12-month high of $120.05. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10.

Coastal Financial (NASDAQ:CCB) last released its earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%.The company had revenue of $56.30 million during the quarter, compared to analysts’ expectations of $138.63 million. On average, research analysts anticipate that Coastal Financial Corporation will post 4.56 earnings per share for the current fiscal year.

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.