Coastal Financial Co. (NASDAQ:CCB) Shares Acquired by Raymond James & Associates

Raymond James & Associates raised its holdings in shares of Coastal Financial Co. (NASDAQ:CCBGet Rating) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,009 shares of the company’s stock after acquiring an additional 1,734 shares during the period. Raymond James & Associates’ holdings in Coastal Financial were worth $3,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amalgamated Bank acquired a new stake in Coastal Financial during the 1st quarter valued at approximately $65,000. Lazard Asset Management LLC lifted its stake in shares of Coastal Financial by 100.5% in the 2nd quarter. Lazard Asset Management LLC now owns 2,039 shares of the company’s stock valued at $77,000 after purchasing an additional 1,022 shares during the period. US Bancorp DE lifted its stake in shares of Coastal Financial by 943.9% in the 1st quarter. US Bancorp DE now owns 3,925 shares of the company’s stock valued at $180,000 after purchasing an additional 3,549 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Coastal Financial by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 5,396 shares of the company’s stock valued at $247,000 after purchasing an additional 1,959 shares during the period. Finally, Summit Global Investments acquired a new position in shares of Coastal Financial in the 2nd quarter valued at $217,000. 56.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Andrew P. Skotdal sold 942 shares of the business’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $52.11, for a total value of $49,087.62. Following the completion of the sale, the director now owns 36,946 shares of the company’s stock, valued at approximately $1,925,256.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Andrew P. Skotdal sold 942 shares of the company’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $52.11, for a total transaction of $49,087.62. Following the completion of the sale, the director now owns 36,946 shares of the company’s stock, valued at $1,925,256.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric M. Sprink sold 4,000 shares of the company’s stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $44.60, for a total transaction of $178,400.00. Following the sale, the chief executive officer now directly owns 281,217 shares of the company’s stock, valued at approximately $12,542,278.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,280 shares of company stock valued at $2,913,115. 19.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Hovde Group boosted their target price on shares of Coastal Financial to $66.00 in a research note on Tuesday, November 1st. Stephens boosted their target price on shares of Coastal Financial to $54.00 in a research note on Friday, November 4th. Finally, Raymond James assumed coverage on shares of Coastal Financial in a research note on Friday, October 28th. They issued a “strong-buy” rating for the company.

Coastal Financial Price Performance

Shares of NASDAQ CCB opened at $43.20 on Friday. The firm has a market cap of $559.96 million, a PE ratio of 16.55 and a beta of 1.14. The firm has a fifty day moving average of $48.10 and a 200 day moving average of $43.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.03 and a current ratio of 1.05. Coastal Financial Co. has a one year low of $35.61 and a one year high of $54.53.

Coastal Financial (NASDAQ:CCBGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.82 EPS for the quarter. The company had revenue of $83.58 million during the quarter. Coastal Financial had a net margin of 13.99% and a return on equity of 16.27%. As a group, research analysts predict that Coastal Financial Co. will post 2.87 EPS for the current fiscal year.

About Coastal Financial

(Get Rating)

Coastal Financial Corp. operates as a bank holding company. The firm through Coastal Community Bank, provides banking products and services to small and medium-sized businesses, professionals, and individuals. It also offers deposit products. It operates through the following segments: community bank and CCBX.

See Also

Want to see what other hedge funds are holding CCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coastal Financial Co. (NASDAQ:CCBGet Rating).

Institutional Ownership by Quarter for Coastal Financial (NASDAQ:CCB)

Receive News & Ratings for Coastal Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coastal Financial and related companies with MarketBeat.com's FREE daily email newsletter.