Boothbay Fund Management LLC Acquires 43,716 Shares of Coastal Financial Corporation $CCB

Boothbay Fund Management LLC grew its holdings in Coastal Financial Corporation (NASDAQ:CCB) by 69.8% in the 4th quarter, HoldingsChannel reports. The firm owned 106,342 shares of the company’s stock after buying an additional 43,716 shares during the quarter. Boothbay Fund Management LLC’s holdings in Coastal Financial were worth $12,186,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Coastal Financial by 129.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock valued at $34,000 after purchasing an additional 169 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Coastal Financial by 20,700.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $72,000 after purchasing an additional 621 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Coastal Financial by 229.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock valued at $80,000 after purchasing an additional 576 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Coastal Financial by 521.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock valued at $122,000 after purchasing an additional 1,059 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Coastal Financial in the 4th quarter valued at about $212,000. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Trading Down 2.3%

NASDAQ CCB opened at $70.34 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.07 billion, a PE ratio of 22.05 and a beta of 0.72. The company has a 50 day moving average price of $74.88 and a 200 day moving average price of $88.95. Coastal Financial Corporation has a 52 week low of $66.50 and a 52 week high of $120.05.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.24). The firm had revenue of $56.30 million for the quarter, compared to the consensus estimate of $138.63 million. Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%. As a group, sell-side analysts forecast that Coastal Financial Corporation will post 4.56 EPS for the current fiscal year.

Analyst Ratings Changes

CCB has been the subject of several recent research reports. TD Cowen reduced their price target on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Keefe, Bruyette & Woods reduced their price objective on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Weiss Ratings lowered shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Stephens reiterated an “overweight” rating and set a $110.00 price objective on shares of Coastal Financial in a research note on Friday, May 1st. Finally, Zacks Research lowered shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Coastal Financial has an average rating of “Moderate Buy” and an average price target of $122.60.

Coastal Financial Company Profile

Coastal Financial Corporation is a bank holding company whose principal subsidiary, Coastal Community Bank, provides a full range of community banking services to clients along North Carolina’s central and eastern coastline. The company focuses on delivering personalized relationship banking to individuals, small businesses, and local professionals in seaside and inland communities.

Through Coastal Community Bank, Coastal Financial offers deposit products including checking, savings, money market accounts and certificates of deposit.