Steven Hovde Acquires 10,000 Shares of Coastal Financial (NASDAQ:CCB) Stock

Coastal Financial Corporation (NASDAQ:CCB) Director Steven Hovde acquired 10,000 shares of Coastal Financial stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $43.83 per share, for a total transaction of $438,300.00. Following the purchase, the director owned 26,500 shares of the company’s stock, valued at $1,161,495. This represents a 60.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Coastal Financial Price Performance

CCB stock opened at $45.34 on Friday. 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 Corporation has a 1 year low of $36.61 and a 1 year high of $120.05. The firm has a market cap of $691.43 million, a P/E ratio of -161.92 and a beta of 0.76. The stock has a 50-day simple moving average of $70.26 and a 200-day simple moving average of $77.57.

Coastal Financial (NASDAQ:CCB) last released its quarterly 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 company had revenue of $178.07 million for the quarter, compared to analyst estimates 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 predict that Coastal Financial Corporation will post 1.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

CCB has been the subject of several analyst reports. Stephens restated an “overweight” rating and issued a $110.00 target price on shares of Coastal Financial in a research note on Friday, May 1st. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Raymond James Financial lowered shares of Coastal Financial from a “strong-buy” rating to an “outperform” rating and set a $50.00 price objective on the stock. in a report on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Coastal Financial in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods lowered their target price on Coastal Financial from $95.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.33.

Key Stories 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

Hedge Funds Weigh In On Coastal Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position 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 worth $34,000 after buying an additional 169 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Coastal Financial in the fourth quarter valued at $50,000. Smartleaf Asset Management LLC boosted its stake in 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 stake in 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 holdings in Coastal Financial by 521.7% during the 2nd 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 in the last quarter. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

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.