First Bank & Trust Buys 761 Shares of Coastal Financial Co. (NASDAQ:CCB)

First Bank & Trust grew its stake in Coastal Financial Co. (NASDAQ:CCB) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,767 shares of the company’s stock after acquiring an additional 761 shares during the quarter. First Bank & Trust’s holdings in Coastal Financial were worth $846,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CCB. Swiss National Bank raised its stake in shares of Coastal Financial by 7.3% in the third quarter. Swiss National Bank now owns 24,865 shares of the company’s stock worth $1,067,000 after purchasing an additional 1,700 shares during the last quarter. Corton Capital Inc. purchased a new stake in Coastal Financial during the third quarter valued at $214,000. Kennedy Capital Management LLC increased its position in Coastal Financial by 17.2% during the third quarter. Kennedy Capital Management LLC now owns 263,688 shares of the company’s stock valued at $11,315,000 after acquiring an additional 38,632 shares during the last quarter. Vanguard Group Inc. increased its position in Coastal Financial by 1.6% during the third quarter. Vanguard Group Inc. now owns 577,945 shares of the company’s stock valued at $24,800,000 after acquiring an additional 9,244 shares during the last quarter. Finally, Cox Capital Mgt LLC increased its position in Coastal Financial by 79.8% in the fourth quarter. Cox Capital Mgt LLC now owns 35,454 shares of the company’s stock worth $1,575,000 after buying an additional 15,730 shares in the last quarter. 59.24% of the stock is owned by institutional investors.

Coastal Financial Price Performance

Shares of NASDAQ CCB traded up $1.27 during mid-day trading on Friday, reaching $46.14. The company’s stock had a trading volume of 236,755 shares, compared to its average volume of 45,647. The firm has a market capitalization of $619.20 million, a PE ratio of 16.13 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a fifty day moving average of $43.26 and a two-hundred day moving average of $41.28. Coastal Financial Co. has a 52 week low of $35.67 and a 52 week high of $48.50.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.11). Coastal Financial had a net margin of 6.55% and a return on equity of 14.31%. The firm had revenue of $147.89 million for the quarter, compared to the consensus estimate of $121.10 million. As a group, sell-side analysts anticipate that Coastal Financial Co. will post 3.47 EPS for the current fiscal year.

Insider Buying and Selling at Coastal Financial

In other Coastal Financial news, CFO Joel G. Edwards sold 1,034 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $44.45, for a total transaction of $45,961.30. Following the sale, the chief financial officer now directly owns 56,369 shares in the company, valued at $2,505,602.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 16.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group reduced their price target on Coastal Financial from $57.50 to $55.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd.

About Coastal Financial

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small and medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts.