Coastal Financial Corporation $CCB Shares Sold by Elizabeth Park Capital Advisors Ltd.

Elizabeth Park Capital Advisors Ltd. trimmed its holdings in Coastal Financial Corporation (NASDAQ:CCB) by 34.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,011 shares of the company’s stock after selling 9,900 shares during the period. Coastal Financial accounts for about 1.8% of Elizabeth Park Capital Advisors Ltd.’s investment portfolio, making the stock its 29th largest position. Elizabeth Park Capital Advisors Ltd.’s holdings in Coastal Financial were worth $2,178,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Coastal Financial by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 784,230 shares of the company’s stock valued at $89,865,000 after acquiring an additional 18,193 shares during the last quarter. Azora Capital LP grew its stake in Coastal Financial by 4.6% in the 4th quarter. Azora Capital LP now owns 618,244 shares of the company’s stock valued at $70,845,000 after acquiring an additional 27,224 shares during the last quarter. American Century Companies Inc. grew its stake in Coastal Financial by 5.9% in the 3rd quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock valued at $55,226,000 after acquiring an additional 28,616 shares during the last quarter. Wellington Management Group LLP grew its stake in Coastal Financial by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 486,197 shares of the company’s stock valued at $52,592,000 after acquiring an additional 39,984 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in Coastal Financial by 43.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 330,230 shares of the company’s stock valued at $37,841,000 after acquiring an additional 100,661 shares during the last quarter. 59.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. 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 report on Friday, May 1st. Zacks Research lowered shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Weiss Ratings lowered shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Finally, 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 report on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.60.

Coastal Financial Trading Down 2.3%

Shares of CCB stock opened at $70.34 on Thursday. The firm has a market cap of $1.07 billion, a P/E ratio of 22.05 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 current ratio of 1.06 and a quick ratio of 1.03. The firm’s 50-day simple moving average is $74.88 and its 200-day simple moving average is $88.95.

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

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.