EJF Capital LLC cut its stake in shares of Coastal Financial Corporation (NYSE:CCB) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,037,795 shares of the company’s stock after selling 59,732 shares during the period. Coastal Financial comprises approximately 2.0% of EJF Capital LLC’s investment portfolio, making the stock its 16th biggest position. EJF Capital LLC owned approximately 8.72% of Coastal Financial worth $16,055,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its holdings in Coastal Financial by 808.3% in the first quarter. BNP Paribas Arbitrage SA now owns 1,535 shares of the company’s stock valued at $26,000 after purchasing an additional 1,366 shares during the period. Advisor Group Inc. increased its holdings in Coastal Financial by 102.5% in the second quarter. Advisor Group Inc. now owns 5,695 shares of the company’s stock valued at $88,000 after purchasing an additional 2,883 shares during the period. Acadian Asset Management LLC increased its holdings in Coastal Financial by 155.6% in the second quarter. Acadian Asset Management LLC now owns 6,070 shares of the company’s stock valued at $94,000 after purchasing an additional 3,695 shares during the period. Parallel Advisors LLC increased its holdings in Coastal Financial by 34.4% in the second quarter. Parallel Advisors LLC now owns 9,395 shares of the company’s stock valued at $145,000 after purchasing an additional 2,405 shares during the period. Finally, First Bank & Trust increased its holdings in Coastal Financial by 210.2% in the second quarter. First Bank & Trust now owns 15,682 shares of the company’s stock valued at $243,000 after purchasing an additional 10,626 shares during the period.
In related news, EVP Daniel J. Lee acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average cost of $14.79 per share, for a total transaction of $36,975.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Coastal Financial (NYSE:CCB) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. The company had revenue of $12.32 million during the quarter.
Coastal Financial Profile
Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to consumers and small to medium sized businesses in the Puget Sound region in Washington. It generates a range of deposit products, including checking and savings accounts, time deposits, and money market accounts.
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