EJF Capital LLC Sells 6,942 Shares of Coastal Financial Corporation $CCB

EJF Capital LLC lowered its holdings in shares of Coastal Financial Corporation (NASDAQ:CCB) by 34.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 13,218 shares of the company’s stock after selling 6,942 shares during the period. EJF Capital LLC’s holdings in Coastal Financial were worth $1,195,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings 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 worth $61,000 after acquiring an additional 461 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Coastal Financial during the fourth quarter worth approximately $172,000. AlphaQuest LLC bought a new stake in shares of Coastal Financial during the first quarter worth approximately $188,000. ProShare Advisors LLC bought a new stake in shares of Coastal Financial during the fourth quarter worth approximately $272,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Coastal Financial by 50,271.4% during the first quarter. GAMMA Investing LLC now owns 3,526 shares of the company’s stock worth $319,000 after acquiring an additional 3,519 shares during the period. Institutional investors own 59.24% of the company’s stock.

Analyst Upgrades and Downgrades

CCB has been the subject of a number of research analyst reports. Hovde Group set a $126.00 price objective on Coastal Financial in a report on Monday, August 18th. Keefe, Bruyette & Woods boosted their price target on Coastal Financial from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $110.25.

Coastal Financial Stock Down 0.4%

Shares of CCB opened at $113.82 on Thursday. Coastal Financial Corporation has a one year low of $47.90 and a one year high of $116.48. The company has a market cap of $1.72 billion, a P/E ratio of 35.02 and a beta of 1.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $103.10 and a two-hundred day simple moving average of $92.22.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.16). Coastal Financial had a net margin of 7.02% and a return on equity of 11.31%. The firm had revenue of $119.43 million for the quarter, compared to analyst estimates of $158.05 million. Research analysts forecast that Coastal Financial Corporation will post 4.59 EPS for the current fiscal year.

Coastal Financial 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.