Coastal Financial (NASDAQ:CCB) Insider Buys $13,093.50 in Stock

Coastal Financial Corporation (NASDAQ:CCB) insider Christopher Adams purchased 290 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average price of $45.15 per share, for a total transaction of $13,093.50. Following the completion of the acquisition, the insider owned 30,407 shares of the company’s stock, valued at $1,372,876.05. The trade was a 0.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Coastal Financial Stock Performance

NASDAQ:CCB opened at $45.34 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.03 and a current ratio of 1.06. The firm has a market cap of $691.43 million, a price-to-earnings ratio of -161.92 and a beta of 0.77. Coastal Financial Corporation has a 52 week low of $36.61 and a 52 week high of $120.05. The firm has a 50-day moving average price of $70.26 and a two-hundred day moving average price of $77.32.

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). The firm had revenue of $178.07 million for the quarter, compared to the consensus estimate of $148.50 million. Coastal Financial had a negative return on equity of 0.79% and a negative net margin of 0.53%. On average, equities analysts expect that Coastal Financial Corporation will post 1.26 earnings per share for the current fiscal year.

Key Headlines Impacting Coastal Financial

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

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 149 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Coastal Financial by 7.0% in the fourth quarter. ProShare Advisors LLC now owns 2,360 shares of the company’s stock worth $270,000 after acquiring an additional 155 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Coastal Financial by 129.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock worth $34,000 after acquiring an additional 169 shares during the period. Swiss National Bank grew its position in shares of Coastal Financial by 0.8% in the third quarter. Swiss National Bank now owns 26,165 shares of the company’s stock valued at $2,830,000 after purchasing an additional 200 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Coastal Financial by 0.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 105,734 shares of the company’s stock valued at $12,117,000 after purchasing an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CCB shares. Raymond James Financial downgraded Coastal Financial from a “strong-buy” rating to an “outperform” rating and set a $50.00 price objective for the company. in a research note on Friday, July 31st. TD Cowen cut 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. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Stephens restated an “overweight” rating and set a $110.00 price target on shares of Coastal Financial in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Coastal Financial from $95.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.33.

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.