Emerald Mutual Fund Advisers Trust Has $11.92 Million Position in Coastal Financial Corporation $CCB

Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Coastal Financial Corporation (NASDAQ:CCB) by 45.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 156,664 shares of the company’s stock after purchasing an additional 48,927 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Coastal Financial were worth $11,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Coastal Financial by 129.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock valued at $34,000 after buying an additional 169 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Coastal Financial during the 4th quarter worth about $50,000. Smartleaf Asset Management LLC lifted its position in Coastal Financial by 20,700.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $72,000 after buying an additional 621 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Coastal Financial by 229.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock worth $80,000 after acquiring an additional 576 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Coastal Financial by 521.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock worth $122,000 after acquiring an additional 1,059 shares during the last quarter. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Coastal Financial Trading Up 0.2%

Shares of CCB opened at $78.60 on Tuesday. The stock’s fifty day simple moving average is $72.96 and its 200-day simple moving average is $84.17. The firm has a market capitalization of $1.20 billion, a PE ratio of 24.64 and a beta of 0.72. Coastal Financial Corporation has a 12-month low of $66.50 and a 12-month high of $120.05. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.10.

Coastal Financial (NASDAQ:CCB) last announced 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). The firm had revenue of $56.30 million during the quarter, compared to analyst estimates of $138.63 million. Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%. As a group, research analysts predict that Coastal Financial Corporation will post 4.57 earnings per share for the current year.

Wall Street Analyst Weigh In

CCB has been the subject of several research reports. Zacks Research upgraded shares of Coastal Financial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. 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 report on Thursday, April 30th. Stephens reissued an “overweight” rating and set a $110.00 price target on shares of Coastal Financial in a research note on Friday, May 1st. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods dropped 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 report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.60.

About Coastal Financial

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.