Coastal Financial Corporation $CCB Shares Purchased by Militia Capital Partners LP

Militia Capital Partners LP increased its holdings in shares of Coastal Financial Corporation (NASDAQ:CCB) by 90.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,000 shares of the company’s stock after acquiring an additional 9,000 shares during the quarter. Militia Capital Partners LP owned about 0.13% of Coastal Financial worth $2,177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCB. Vanguard Group Inc. raised its stake in Coastal Financial by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 784,230 shares of the company’s stock worth $89,865,000 after purchasing an additional 18,193 shares during the period. American Century Companies Inc. raised its stake in Coastal Financial by 5.9% during the third quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock worth $55,226,000 after purchasing an additional 28,616 shares during the period. Wellington Management Group LLP raised its stake in Coastal Financial by 9.0% during the third quarter. Wellington Management Group LLP now owns 486,197 shares of the company’s stock worth $52,592,000 after purchasing an additional 39,984 shares during the period. Loomis Sayles & Co. L P raised its stake in Coastal Financial by 43.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 330,230 shares of the company’s stock worth $37,841,000 after purchasing an additional 100,661 shares during the period. Finally, Geode Capital Management LLC raised its stake in Coastal Financial by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 325,897 shares of the company’s stock worth $37,351,000 after purchasing an additional 9,357 shares during the period. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Coastal Financial Price Performance

Coastal Financial stock opened at $71.98 on Wednesday. The company’s 50 day simple moving average is $75.05 and its 200-day simple moving average is $89.24. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 22.56 and a beta of 0.72. Coastal Financial Corporation has a 1 year low of $66.50 and a 1 year high of $120.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.03 and a current ratio of 1.06.

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

Analyst Upgrades and Downgrades

CCB has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen reduced their target price on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Keefe, Bruyette & Woods reduced their target price on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, Zacks Research downgraded shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.