Diversify Advisory Services LLC Makes New $714,000 Investment in Coastal Financial Co. (NASDAQ:CCB)

Diversify Advisory Services LLC purchased a new stake in Coastal Financial Co. (NASDAQ:CCBFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,699 shares of the company’s stock, valued at approximately $714,000. Diversify Advisory Services LLC owned 0.14% of Coastal Financial as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mendon Capital Advisors Corp acquired a new position in Coastal Financial during the fourth quarter valued at approximately $5,329,000. Norden Group LLC acquired a new position in shares of Coastal Financial in the 1st quarter valued at $1,488,000. Cox Capital Mgt LLC increased its position in shares of Coastal Financial by 79.8% in the 4th quarter. Cox Capital Mgt LLC now owns 35,454 shares of the company’s stock valued at $1,575,000 after buying an additional 15,730 shares in the last quarter. Vanguard Group Inc. raised its stake in Coastal Financial by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 577,945 shares of the company’s stock worth $24,800,000 after buying an additional 9,244 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Coastal Financial by 59.8% during the fourth quarter. SG Americas Securities LLC now owns 3,978 shares of the company’s stock worth $177,000 after acquiring an additional 1,489 shares in the last quarter. 59.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Hovde Group dropped their price target on Coastal Financial from $57.50 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd.

View Our Latest Research Report on CCB

Coastal Financial Trading Down 3.4 %

Shares of NASDAQ:CCB opened at $43.75 on Friday. The firm has a market cap of $587.13 million, a price-to-earnings ratio of 15.30 and a beta of 1.25. Coastal Financial Co. has a 12 month low of $35.67 and a 12 month high of $48.50. The company’s fifty day simple moving average is $43.73 and its 200 day simple moving average is $41.28. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16.

Coastal Financial (NASDAQ:CCBGet Free Report) last released its quarterly earnings results on Monday, April 29th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.11). The firm had revenue of $147.89 million during the quarter, compared to analyst estimates of $121.10 million. Coastal Financial had a net margin of 6.55% and a return on equity of 14.31%. As a group, research analysts forecast that Coastal Financial Co. will post 3.47 EPS for the current fiscal year.

Insider Buying and Selling at Coastal Financial

In related news, CFO Joel G. Edwards sold 1,034 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $44.45, for a total value of $45,961.30. Following the completion of the transaction, the chief financial officer now owns 56,369 shares of the company’s stock, valued at $2,505,602.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 16.82% of the company’s stock.

Coastal Financial Company Profile

(Free Report)

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.

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

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