Militia Capital Management LLC Makes New Investment in Coastal Financial Corporation $CCB

Militia Capital Management LLC purchased a new stake in Coastal Financial Corporation (NASDAQ:CCB) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 48,559 shares of the company’s stock, valued at approximately $3,695,000. Coastal Financial comprises approximately 0.8% of Militia Capital Management LLC’s portfolio, making the stock its 24th biggest holding. Militia Capital Management LLC owned approximately 0.32% of Coastal Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP increased its stake in shares of Coastal Financial by 11.3% during the 1st quarter. First Trust Advisors LP now owns 48,713 shares of the company’s stock worth $3,707,000 after purchasing an additional 4,954 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Coastal Financial by 16,937.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 32,201 shares of the company’s stock valued at $2,450,000 after purchasing an additional 32,012 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Coastal Financial by 7.6% during the first quarter. Dimensional Fund Advisors LP now owns 359,571 shares of the company’s stock worth $27,361,000 after purchasing an additional 25,424 shares during the period. Arcus Capital Partners LLC grew its holdings in Coastal Financial by 37.1% during the first quarter. Arcus Capital Partners LLC now owns 17,636 shares of the company’s stock worth $1,342,000 after purchasing an additional 4,771 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its position in Coastal Financial by 45.4% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 156,664 shares of the company’s stock worth $11,922,000 after buying an additional 48,927 shares during the last quarter. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Stock Performance

Shares of NASDAQ CCB opened at $77.56 on Thursday. 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 stock’s fifty day moving average price is $73.86 and its two-hundred day moving average price is $82.34. Coastal Financial Corporation has a one year low of $66.50 and a one year high of $120.05. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 24.31 and a beta of 0.72.

Coastal Financial (NASDAQ:CCB) last posted 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). Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%.The firm had revenue of $56.30 million for the quarter, compared to the consensus estimate of $138.63 million. On average, equities analysts forecast that Coastal Financial Corporation will post 4.57 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on CCB shares. TD Cowen dropped their price objective on Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coastal Financial in a research note on Monday, June 29th. Keefe, Bruyette & Woods decreased their target price on Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Stephens restated an “overweight” rating and issued a $110.00 price target on shares of Coastal Financial in a research note on Friday, May 1st. Finally, Zacks Research raised Coastal Financial from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company 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.