Coastal Financial Corporation $CCB Shares Purchased by Azora Capital LP

Azora Capital LP grew its position in shares of Coastal Financial Corporation (NASDAQ:CCB) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 618,244 shares of the company’s stock after acquiring an additional 27,224 shares during the quarter. Coastal Financial comprises about 4.5% of Azora Capital LP’s investment portfolio, making the stock its 9th largest holding. Azora Capital LP owned about 4.09% of Coastal Financial worth $70,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CCB. EverSource Wealth Advisors LLC boosted its holdings in shares of Coastal Financial by 129.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock valued at $34,000 after acquiring an additional 169 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Coastal Financial by 20,700.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $72,000 after acquiring an additional 621 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Coastal Financial by 229.5% during the second quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock valued at $80,000 after acquiring an additional 576 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Coastal Financial by 521.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock valued at $122,000 after acquiring an additional 1,059 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of Coastal Financial during the fourth quarter valued at $212,000. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Price Performance

NASDAQ CCB opened at $70.34 on Thursday. Coastal Financial Corporation has a 12 month low of $66.50 and a 12 month high of $120.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03. The firm has a market capitalization of $1.07 billion, a PE ratio of 22.05 and a beta of 0.72. The company’s 50 day simple moving average is $74.88 and its 200 day simple moving average is $88.95.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Stephens reissued an “overweight” rating and set a $110.00 price target on shares of Coastal Financial in a report on Friday, May 1st. Weiss Ratings downgraded shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, 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. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.