Rosenthal Henry Capital Advisors Inc. Increases Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

Rosenthal Henry Capital Advisors Inc. raised its position in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 214.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,116 shares of the company's stock after purchasing an additional 20,525 shares during the period. Rosenthal Henry Capital Advisors Inc. owned 0.22% of Coastal Financial worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CCB. nVerses Capital LLC increased its position in shares of Coastal Financial by 300.0% during the 3rd quarter. nVerses Capital LLC now owns 800 shares of the company's stock valued at $43,000 after purchasing an additional 600 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Coastal Financial by 642.4% during the first quarter. EntryPoint Capital LLC now owns 1,663 shares of the company's stock valued at $65,000 after purchasing an additional 1,439 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Coastal Financial by 22,360.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company's stock valued at $207,000 after buying an additional 4,472 shares during the last quarter. Quadrature Capital Ltd bought a new position in Coastal Financial in the 1st quarter worth about $207,000. Finally, Creative Planning bought a new position in shares of Coastal Financial in the third quarter worth approximately $298,000. Hedge funds and other institutional investors own 59.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Raymond James lifted their price target on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a "strong-buy" rating in a research note on Tuesday. Hovde Group boosted their price objective on Coastal Financial from $67.00 to $76.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods boosted their price objective on Coastal Financial from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday.

Coastal Financial Stock Up 0.4 %

NASDAQ:CCB traded up $0.27 during mid-day trading on Friday, reaching $63.26. The company's stock had a trading volume of 78,883 shares, compared to its average volume of 58,624. The firm has a market capitalization of $851.23 million, a PE ratio of 21.30 and a beta of 1.22. The stock has a fifty day moving average of $54.75 and a 200-day moving average of $48.72. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. Coastal Financial Co. has a 1 year low of $35.67 and a 1 year high of $68.00.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Coastal Financial had a return on equity of 14.16% and a net margin of 5.98%. The business had revenue of $185.15 million for the quarter, compared to analyst estimates of $154.30 million. Equities research analysts forecast that Coastal Financial Co. will post 3.55 earnings per share for the current year.

Insider Transactions at Coastal Financial

In other news, CEO Eric M. Sprink sold 1,000 shares of the business's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $51.56, for a total transaction of $51,560.00. Following the completion of the sale, the chief executive officer now owns 312,689 shares of the company's stock, valued at $16,122,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coastal Financial news, CEO Eric M. Sprink sold 1,000 shares of the business's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $51.56, for a total transaction of $51,560.00. Following the transaction, the chief executive officer now owns 312,689 shares of the company's stock, valued at approximately $16,122,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric M. Sprink sold 7,000 shares of Coastal Financial stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $65.93, for a total value of $461,510.00. Following the transaction, the chief executive officer now owns 251,388 shares in the company, valued at approximately $16,574,010.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,495 shares of company stock valued at $3,901,426 in the last 90 days. 16.82% of the stock is currently owned by company insiders.

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.