Coastal Financial (NASDAQ:CCB) Director Steven Hovde Purchases 5,000 Shares

Coastal Financial Corporation (NASDAQ:CCB) Director Steven Hovde purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was purchased at an average cost of $44.00 per share, for a total transaction of $220,000.00. Following the acquisition, the director owned 16,500 shares of the company’s stock, valued at approximately $726,000. This trade represents a 43.48% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Coastal Financial Price Performance

NASDAQ:CCB opened at $45.34 on Friday. The firm has a market capitalization of $691.43 million, a price-to-earnings ratio of -161.92 and a beta of 0.76. Coastal Financial Corporation has a 52-week low of $36.61 and a 52-week high of $120.05. The stock has a fifty day moving average of $70.26 and a 200 day moving average of $77.57. 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 posted its earnings results on Thursday, July 30th. The company reported ($2.76) EPS for the quarter, missing the consensus estimate of $1.01 by ($3.77). Coastal Financial had a negative return on equity of 0.79% and a negative net margin of 0.53%.The business had revenue of $178.07 million for the quarter, compared to analysts’ expectations of $148.50 million. On average, research analysts expect that Coastal Financial Corporation will post 1.26 EPS for the current fiscal year.

Coastal Financial News Summary

Here are the key news stories impacting Coastal Financial this week:

• Positive Sentiment: Company insiders made substantial open-market purchases. CEO Eric M. Sprink bought 10,000 shares for approximately $444,500, while Director Steven D. Hovde purchased 15,000 shares in two transactions totaling about $658,300. Christopher D. Adams also bought 290 shares. These purchases can signal that management and directors view the recent decline as an attractive entry point, although insider buying does not guarantee a recovery. CEO SEC filing Director SEC filing
• Neutral Sentiment: A regional-bank second-quarter comparison article highlighted Coastal Financial alongside peers, but the supplied report provides no specific new operating conclusions or estimates that would materially change the investment outlook. Regional banks second-quarter comparison
• Negative Sentiment: Kaplan Fox, Bleichmar Fonti & Auld, and Pomerantz announced investigations into potential securities-law violations or securities fraud following Coastal Financial’s significant stock decline. These announcements increase headline, litigation and reputational risk, although they do not establish that wrongdoing occurred. Kaplan Fox investigation Bleichmar Fonti investigation Pomerantz investigation
• Negative Sentiment: Zacks Research downgraded CCB from “hold” to “strong sell,” reinforcing concerns about the company’s outlook. Its latest quarterly results also showed a substantial EPS loss versus expectations, despite revenue exceeding estimates, suggesting profitability—not demand—is the primary concern. Zacks Research

Institutional Investors Weigh In On Coastal Financial

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings 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 valued at $34,000 after acquiring an additional 169 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Coastal Financial during the fourth quarter valued at $50,000. Smartleaf Asset Management LLC boosted its holdings in shares of Coastal Financial by 20,700.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $72,000 after acquiring an additional 621 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Coastal Financial by 229.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock valued at $80,000 after acquiring an additional 576 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Coastal Financial by 521.7% in the second 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 period. 59.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CCB shares. Stephens reiterated an “overweight” rating and set a $110.00 target price on shares of Coastal Financial in a research report on Friday, May 1st. TD Cowen decreased their price target on shares of Coastal Financial from $110.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Coastal Financial in a research report on Monday, June 29th. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Zacks Research downgraded shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.33.

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.