Steven Hovde Buys 5,000 Shares of Coastal Financial (NASDAQ:CCB) Stock

Coastal Financial Corporation (NASDAQ:CCB) Director Steven Hovde bought 5,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was purchased at an average price of $44.00 per share, with a total value of $220,000.00. Following the acquisition, the director owned 16,500 shares of the company’s stock, valued at $726,000. The trade was a 43.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Coastal Financial Stock Up 3.2%

Coastal Financial stock opened at $45.34 on Friday. The firm has a 50 day moving average price of $70.26 and a 200-day moving average price of $77.57. 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 $36.61 and a twelve month high of $120.05. The company has a market capitalization of $691.43 million, a P/E ratio of -161.92 and a beta of 0.76.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($2.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($3.77). Coastal Financial had a negative net margin of 0.53% and a negative return on equity of 0.79%. The firm had revenue of $178.07 million during the quarter, compared to the consensus estimate of $148.50 million. As a group, equities analysts predict that Coastal Financial Corporation will post 1.26 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CCB shares. TD Cowen lowered their target price on Coastal Financial from $110.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Wall Street Zen upgraded Coastal Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Raymond James Financial cut shares of Coastal Financial from a “strong-buy” rating to an “outperform” rating and set a $50.00 price target on the stock. in a research report on Friday, July 31st. Zacks Research lowered Coastal Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Coastal Financial in a research report on Monday, June 29th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.33.

Institutional Investors Weigh In On Coastal Financial

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Coastal Financial by 129.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock worth $34,000 after acquiring an additional 169 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Coastal Financial during the fourth quarter valued at $50,000. Smartleaf Asset Management LLC increased its holdings in shares of Coastal Financial by 20,700.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $72,000 after buying an additional 621 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Coastal Financial by 229.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock valued at $80,000 after buying an additional 576 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Coastal Financial by 521.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock worth $122,000 after acquiring an additional 1,059 shares during the last quarter. 59.24% of the stock is owned by hedge funds and other institutional investors.

Coastal Financial News Roundup

Here are the key news stories impacting Coastal Financial this week:

• Positive Sentiment: Company insiders made substantial open-market purchases. CEO Eric M. Sprink bought 10,000 shares for approximately $444,500, while Director Steven D. Hovde purchased 15,000 shares in two transactions totaling about $658,300. Christopher D. Adams also bought 290 shares. These purchases can signal that management and directors view the recent decline as an attractive entry point, although insider buying does not guarantee a recovery. CEO SEC filing Director SEC filing
• Neutral Sentiment: A regional-bank second-quarter comparison article highlighted Coastal Financial alongside peers, but the supplied report provides no specific new operating conclusions or estimates that would materially change the investment outlook. Regional banks second-quarter comparison
• Negative Sentiment: Kaplan Fox, Bleichmar Fonti & Auld, and Pomerantz announced investigations into potential securities-law violations or securities fraud following Coastal Financial’s significant stock decline. These announcements increase headline, litigation and reputational risk, although they do not establish that wrongdoing occurred. Kaplan Fox investigation Bleichmar Fonti investigation Pomerantz investigation
• Negative Sentiment: Zacks Research downgraded CCB from “hold” to “strong sell,” reinforcing concerns about the company’s outlook. Its latest quarterly results also showed a substantial EPS loss versus expectations, despite revenue exceeding estimates, suggesting profitability—not demand—is the primary concern. Zacks Research

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.