Boothbay Fund Management LLC Raises Position in Coastal Financial Co. (NASDAQ:CCB)

Boothbay Fund Management LLC boosted its position in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 18.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 122,130 shares of the company's stock after buying an additional 18,705 shares during the quarter. Boothbay Fund Management LLC owned approximately 0.90% of Coastal Financial worth $10,370,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of Coastal Financial by 179.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock valued at $61,000 after acquiring an additional 461 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Coastal Financial during the 4th quarter valued at approximately $64,000. New York State Teachers Retirement System purchased a new stake in Coastal Financial in the 4th quarter worth approximately $87,000. USA Financial Formulas bought a new stake in shares of Coastal Financial in the 4th quarter worth approximately $122,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Coastal Financial during the fourth quarter valued at approximately $178,000. Hedge funds and other institutional investors own 59.24% of the company's stock.

Insider Transactions at Coastal Financial

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of Coastal Financial stock in a transaction on Monday, April 14th. The stock was sold at an average price of $79.07, for a total transaction of $126,512.00. Following the completion of the transaction, the director now owns 14,006 shares in the company, valued at approximately $1,107,454.42. The trade was a 10.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.82% of the company's stock.

Coastal Financial Stock Down 0.1 %

Coastal Financial stock traded down $0.12 on Monday, hitting $87.96. 113,252 shares of the stock traded hands, compared to its average volume of 91,000. Coastal Financial Co. has a 1 year low of $37.51 and a 1 year high of $102.25. The firm has a market cap of $1.32 billion, a P/E ratio of 27.06 and a beta of 1.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The business's fifty day simple moving average is $86.42 and its 200 day simple moving average is $80.95.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.03 by ($0.09). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. As a group, sell-side analysts forecast that Coastal Financial Co. will post 4.59 earnings per share for the current year.

Wall Street Analyst Weigh In

CCB has been the topic of several recent analyst reports. Raymond James reiterated a "strong-buy" rating on shares of Coastal Financial in a report on Wednesday, April 2nd. Stephens reiterated an "overweight" rating and set a $100.00 price target on shares of Coastal Financial in a research report on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Coastal Financial from $96.00 to $114.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th.

Coastal Financial Company Profile

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small and medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts.