Coastal Financial Co. (NASDAQ:CCB) Shares Purchased by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. lifted its position in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 35.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,113 shares of the company's stock after acquiring an additional 19,500 shares during the quarter. Stieven Capital Advisors L.P. owned 0.55% of Coastal Financial worth $4,001,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CCB. nVerses Capital LLC boosted its position in Coastal Financial by 300.0% during the third quarter. nVerses Capital LLC now owns 800 shares of the company's stock worth $43,000 after purchasing an additional 600 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of Coastal Financial by 642.4% during the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company's stock valued at $65,000 after buying an additional 1,439 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Coastal Financial by 22,360.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company's stock valued at $207,000 after acquiring an additional 4,472 shares during the period. Portside Wealth Group LLC increased its holdings in Coastal Financial by 3.7% in the 3rd quarter. Portside Wealth Group LLC now owns 4,669 shares of the company's stock worth $252,000 after acquiring an additional 166 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Coastal Financial during the first quarter worth $207,000. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Coastal Financial from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Hovde Group lifted their price objective on Coastal Financial from $67.00 to $76.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Finally, Raymond James boosted their price objective on Coastal Financial from $61.00 to $73.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 29th.

Insider Buying and Selling

In other news, CEO Eric M. Sprink sold 7,302 shares of the company's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $50.13, for a total value of $366,049.26. Following the transaction, the chief executive officer now owns 316,912 shares of the company's stock, valued at $15,886,798.56. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven D. Hovde sold 2,003 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $53.26, for a total value of $106,679.78. Following the sale, the director now directly owns 27,997 shares of the company's stock, valued at $1,491,120.22. The trade was a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,977 shares of company stock worth $4,428,296. Insiders own 16.82% of the company's stock.

Coastal Financial Price Performance

Shares of Coastal Financial stock traded up $0.02 during trading hours on Friday, reaching $73.32. 59,110 shares of the company's stock were exchanged, compared to its average volume of 93,572. The business has a fifty day moving average of $58.35 and a two-hundred day moving average of $51.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $992.75 million, a P/E ratio of 24.69 and a beta of 1.22. Coastal Financial Co. has a 1 year low of $35.67 and a 1 year high of $74.58.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its earnings results on Monday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Coastal Financial had a return on equity of 13.86% and a net margin of 5.98%. The business had revenue of $185.15 million during the quarter, compared to the consensus estimate of $154.30 million. As a group, research analysts predict that Coastal Financial Co. will post 3.55 earnings per share for the current fiscal year.

About Coastal Financial

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.