Emerald Advisers LLC Grows Position in Coastal Financial Corporation $CCB

Emerald Advisers LLC increased its stake in shares of Coastal Financial Corporation (NASDAQ:CCB) by 44.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,182 shares of the company’s stock after buying an additional 68,427 shares during the quarter. Emerald Advisers LLC owned about 1.45% of Coastal Financial worth $16,832,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Coastal Financial by 2.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,644 shares of the company’s stock valued at $644,000 after purchasing an additional 149 shares in the last quarter. ProShare Advisors LLC increased its stake in Coastal Financial by 7.0% during the 4th quarter. ProShare Advisors LLC now owns 2,360 shares of the company’s stock worth $270,000 after buying an additional 155 shares in the last quarter. EverSource Wealth Advisors LLC increased its position 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 worth $34,000 after purchasing an additional 169 shares in the last quarter. Swiss National Bank grew its holdings in Coastal Financial by 0.8% in the 3rd quarter. Swiss National Bank now owns 26,165 shares of the company’s stock valued at $2,830,000 after buying an additional 200 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Coastal Financial by 0.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 105,734 shares of the company’s stock worth $12,117,000 after purchasing an additional 293 shares during the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Stock Up 0.2%

Shares of NASDAQ:CCB opened at $78.60 on Tuesday. Coastal Financial Corporation has a fifty-two week low of $66.50 and a fifty-two week high of $120.05. The firm’s 50-day simple moving average is $72.96 and its 200-day simple moving average is $84.17. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 24.64 and a beta of 0.72. 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 issued its 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). Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%.The business had revenue of $56.30 million for the quarter, compared to analysts’ expectations of $138.63 million. As a group, equities research analysts predict that Coastal Financial Corporation will post 4.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. TD Cowen reduced their target price on 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 reiterated an “overweight” rating and set a $110.00 target price on shares of Coastal Financial in a report on Friday, May 1st. Zacks Research upgraded Coastal Financial from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Wall Street Zen raised Coastal Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods dropped their price target 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. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Coastal Financial presently has a consensus rating of “Moderate Buy” and a consensus target price 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.