Coastal Financial Co. (NASDAQ:CCB) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lessened its holdings in Coastal Financial Co. (NASDAQ:CCB) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,904 shares of the company’s stock after selling 6,467 shares during the period. Orion Portfolio Solutions LLC owned approximately 0.75% of Coastal Financial worth $4,295,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CCB. SG Americas Securities LLC increased its stake in shares of Coastal Financial by 59.8% during the fourth quarter. SG Americas Securities LLC now owns 3,978 shares of the company’s stock worth $177,000 after buying an additional 1,489 shares during the period. Corton Capital Inc. purchased a new stake in shares of Coastal Financial in the 3rd quarter valued at approximately $214,000. Raymond James & Associates acquired a new stake in shares of Coastal Financial in the 3rd quarter valued at $216,000. Channing Capital Management LLC purchased a new stake in shares of Coastal Financial during the 3rd quarter worth $318,000. Finally, Barclays PLC grew its stake in shares of Coastal Financial by 3.9% during the third quarter. Barclays PLC now owns 16,825 shares of the company’s stock worth $722,000 after purchasing an additional 636 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Stock Performance

Shares of Coastal Financial stock opened at $44.36 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. Coastal Financial Co. has a 52 week low of $34.02 and a 52 week high of $48.50. The firm’s 50 day moving average is $40.27 and its two-hundred day moving average is $40.60. The firm has a market capitalization of $595.31 million, a P/E ratio of 15.51 and a beta of 1.16.

Coastal Financial (NASDAQ:CCB) last issued its earnings results on Monday, April 29th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.11). Coastal Financial had a net margin of 6.55% and a return on equity of 14.31%. The company had revenue of $147.89 million during the quarter, compared to analyst estimates of $121.10 million. Research analysts forecast that Coastal Financial Co. will post 3.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Coastal Financial

In other news, CFO Joel G. Edwards sold 1,034 shares of Coastal Financial stock in a transaction dated 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 owns 56,369 shares in the company, valued at $2,505,602.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.82% of the stock is currently owned by insiders.

Coastal Financial Profile

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.