Coastal Financial Corporation $CCB Shares Acquired by Emerald Advisers LLC

Emerald Advisers LLC grew its stake in shares of Coastal Financial Corporation (NASDAQ:CCB) by 44.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 221,182 shares of the company’s stock after buying an additional 68,427 shares during the period. Emerald Advisers LLC’s holdings in Coastal Financial were worth $16,832,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CCB. Vanguard Group Inc. increased its stake in Coastal Financial by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 784,230 shares of the company’s stock valued at $89,865,000 after purchasing an additional 18,193 shares during the last quarter. Azora Capital LP lifted its holdings 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 in the last quarter. Wellington Management Group LLP boosted its position in shares of Coastal Financial by 9.0% in the third quarter. Wellington Management Group LLP now owns 486,197 shares of the company’s stock worth $52,592,000 after buying an additional 39,984 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Coastal Financial by 43.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 330,230 shares of the company’s stock worth $37,841,000 after acquiring an additional 100,661 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Coastal Financial by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 325,897 shares of the company’s stock valued at $37,351,000 after buying an additional 9,357 shares during the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Stock Performance

NASDAQ:CCB opened at $78.60 on Tuesday. The firm has a market capitalization of $1.20 billion, a PE ratio of 24.64 and a beta of 0.72. The firm has a 50-day moving average price of $72.96 and a 200 day moving average price of $84.17. 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 12-month low of $66.50 and a 12-month high of $120.05.

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

Analyst Ratings Changes

A number of equities analysts recently commented on CCB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Coastal Financial in a research note on Monday, June 29th. Wall Street Zen raised Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research raised Coastal Financial from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods lowered their price objective 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, TD Cowen dropped their target price on Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.60.

Coastal Financial Profile

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.