Militia Capital Management LLC Invests $3.69 Million in Coastal Financial Corporation $CCB

Militia Capital Management LLC purchased a new stake in Coastal Financial Corporation (NASDAQ:CCB) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 48,559 shares of the company’s stock, valued at approximately $3,695,000. Coastal Financial makes up 0.8% of Militia Capital Management LLC’s holdings, making the stock its 24th largest position.

Several other institutional investors have also made changes to their positions in CCB. Vanguard Group Inc. increased its stake in Coastal Financial by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 784,230 shares of the company’s stock worth $89,865,000 after acquiring an additional 18,193 shares during the period. Azora Capital LP lifted its position in shares of Coastal Financial by 4.6% during the 4th quarter. Azora Capital LP now owns 618,244 shares of the company’s stock valued at $70,845,000 after acquiring an additional 27,224 shares during the period. Wellington Management Group LLP lifted its position in shares of Coastal Financial by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 486,197 shares of the company’s stock valued at $52,592,000 after acquiring an additional 39,984 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Coastal Financial by 7.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 359,571 shares of the company’s stock worth $27,361,000 after purchasing an additional 25,424 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Coastal Financial by 43.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 330,230 shares of the company’s stock worth $37,841,000 after purchasing an additional 100,661 shares in the last quarter. 59.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on CCB shares. TD Cowen dropped their price target on Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Coastal Financial in a report on Monday, June 29th. Stephens reaffirmed an “overweight” rating and set a $110.00 price target on shares of Coastal Financial in a report on Friday, May 1st. Keefe, Bruyette & Woods reduced their price target on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Finally, Zacks Research raised shares of Coastal Financial from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $122.60.

Coastal Financial Price Performance

Shares of CCB stock opened at $77.56 on Thursday. The business has a fifty day simple moving average of $73.86 and a 200 day simple moving average of $82.34. The company has a market cap of $1.18 billion, a P/E ratio of 24.31 and a beta of 0.72. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. Coastal Financial Corporation has a twelve month low of $66.50 and a twelve month high of $120.05.

Coastal Financial (NASDAQ:CCB) last released its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). The business had revenue of $56.30 million during the quarter, compared to the consensus estimate of $138.63 million. Coastal Financial had a net margin of 7.35% and a return on equity of 10.20%. On average, sell-side analysts forecast that Coastal Financial Corporation will post 4.57 EPS 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.