Coastal Financial (NASDAQ:CCB) CEO Eric Sprink Purchases 10,000 Shares of Stock

Coastal Financial Corporation (NASDAQ:CCB) CEO Eric Sprink bought 10,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were purchased at an average price of $44.45 per share, for a total transaction of $444,500.00. Following the purchase, the chief executive officer owned 173,238 shares of the company’s stock, valued at $7,700,429.10. This trade represents a 6.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Coastal Financial Stock Performance

Shares of NASDAQ CCB opened at $45.34 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03. The stock’s fifty day moving average price is $70.26 and its two-hundred day moving average price is $77.57. Coastal Financial Corporation has a one year low of $36.61 and a one year high of $120.05. The firm has a market cap of $691.43 million, a price-to-earnings ratio of -161.92 and a beta of 0.76.

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

Key Stories Impacting Coastal Financial

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCB. TD Cowen cut their price target 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. Weiss Ratings reissued a “hold (c)” rating on shares of Coastal Financial in a report on Monday, June 29th. Raymond James Financial downgraded shares of Coastal Financial from a “strong-buy” rating to an “outperform” rating and set a $50.00 price objective for the company. in a research report on Friday, July 31st. Zacks Research downgraded Coastal Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Finally, Stephens reiterated an “overweight” rating and issued a $110.00 target price on shares of Coastal Financial in a research report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.33.

Hedge Funds Weigh In On Coastal Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC bought a new stake in Coastal Financial in the fourth quarter valued at approximately $2,279,000. Mendon Capital Advisors Corp increased its position in shares of Coastal Financial by 86.7% during the first quarter. Mendon Capital Advisors Corp now owns 56,000 shares of the company’s stock worth $4,262,000 after buying an additional 26,000 shares during the period. Phocas Financial Corp. acquired a new stake in Coastal Financial in the fourth quarter worth $3,948,000. Cooper Creek Partners Management LLC increased its stake in Coastal Financial by 105.0% during the 1st quarter. Cooper Creek Partners Management LLC now owns 450,134 shares of the company’s stock valued at $34,255,000 after purchasing an additional 230,537 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Coastal Financial during the first quarter valued at about $1,885,000. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Coastal Financial Company 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.