Boothbay Fund Management LLC Acquires 18,705 Shares of Coastal Financial Co. (NASDAQ:CCB)

Boothbay Fund Management LLC grew its stake in shares of Coastal Financial Co. (NASDAQ:CCB) by 18.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,130 shares of the company’s stock after buying an additional 18,705 shares during the period. Boothbay Fund Management LLC’s holdings in Coastal Financial were worth $10,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CCB. First Trust Advisors LP boosted its holdings in shares of Coastal Financial by 1.9% during the 4th quarter. First Trust Advisors LP now owns 8,297 shares of the company’s stock valued at $704,000 after purchasing an additional 156 shares during the last quarter. Franklin Resources Inc. boosted its stake in Coastal Financial by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 45,886 shares of the company’s stock valued at $3,896,000 after buying an additional 400 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Coastal Financial by 179.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock valued at $61,000 after buying an additional 461 shares in the last quarter. Empowered Funds LLC increased its stake in Coastal Financial by 4.6% in the 4th quarter. Empowered Funds LLC now owns 11,591 shares of the company’s stock worth $984,000 after acquiring an additional 507 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Coastal Financial by 8.7% during the 4th quarter. SG Americas Securities LLC now owns 6,517 shares of the company’s stock worth $553,000 after acquiring an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Coastal Financial Trading Down 0.2 %

CCB stock opened at $88.08 on Friday. Coastal Financial Co. has a twelve month low of $37.51 and a twelve month high of $102.25. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 27.10 and a beta of 1.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $86.50 and its two-hundred day simple moving average is $80.36.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. As a group, analysts anticipate that Coastal Financial Co. will post 4.59 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CCB. Keefe, Bruyette & Woods boosted their price target on shares of Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Stephens restated an “overweight” rating and set a $100.00 target price on shares of Coastal Financial in a research report on Tuesday, March 18th. Finally, Raymond James reiterated a “strong-buy” rating on shares of Coastal Financial in a research report on Wednesday, April 2nd.

Insider Transactions at Coastal Financial

In related news, Director Gregory A. Tisdel sold 1,600 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $79.07, for a total value of $126,512.00. Following the transaction, the director now owns 14,006 shares of the company’s stock, valued at $1,107,454.42. This trade represents a 10.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 16.82% of the company’s stock.

Coastal Financial Company 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.