156,185 Shares in Coastal Financial Corporation $CCB Bought by Ranger Investment Management L.P.

Ranger Investment Management L.P. purchased a new stake in Coastal Financial Corporation (NASDAQ:CCB) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 156,185 shares of the company’s stock, valued at approximately $16,895,000. Ranger Investment Management L.P. owned approximately 1.03% of Coastal Financial at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in Coastal Financial by 2.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,644 shares of the company’s stock valued at $644,000 after buying an additional 149 shares in the last quarter. Emerald Advisers LLC boosted its holdings in Coastal Financial by 2.5% in the second quarter. Emerald Advisers LLC now owns 7,421 shares of the company’s stock worth $719,000 after acquiring an additional 179 shares in the last quarter. EJF Capital LLC grew its stake in Coastal Financial by 2.5% in the second quarter. EJF Capital LLC now owns 13,547 shares of the company’s stock valued at $1,312,000 after acquiring an additional 329 shares during the period. AQR Capital Management LLC increased its holdings in shares of Coastal Financial by 3.7% during the first quarter. AQR Capital Management LLC now owns 13,102 shares of the company’s stock valued at $1,185,000 after acquiring an additional 473 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Coastal Financial by 229.5% during the second quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock valued at $80,000 after acquiring an additional 576 shares in the last quarter. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Trading Down 3.3%

NASDAQ:CCB opened at $85.84 on Friday. Coastal Financial Corporation has a 52 week low of $76.11 and a 52 week high of $120.05. The firm has a 50-day moving average price of $111.33 and a two-hundred day moving average price of $108.37. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.06. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 28.36 and a beta of 0.87.

Coastal Financial (NASDAQ:CCB) last released its earnings results on Thursday, January 29th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.34). The business had revenue of $56.49 million during the quarter, compared to the consensus estimate of $140.81 million. Coastal Financial had a net margin of 7.11% and a return on equity of 10.16%. On average, equities analysts expect that Coastal Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CCB shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Coastal Financial in a research report on Monday, December 29th. Zacks Research cut shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday. Keefe, Bruyette & Woods dropped their price target on shares of Coastal Financial from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday. UBS Group set a $155.00 price objective on Coastal Financial in a report on Friday, December 5th. Finally, Hovde Group lowered their price objective on Coastal Financial from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.00.

Insiders Place Their Bets

In other news, CFO Joel G. Edwards sold 1,300 shares of Coastal Financial stock in a transaction on Monday, January 26th. The stock was sold at an average price of $111.34, for a total transaction of $144,742.00. Following the sale, the chief financial officer directly owned 11,462 shares in the company, valued at $1,276,179.08. The trade was a 10.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric M. Sprink sold 4,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $116.01, for a total transaction of $464,040.00. Following the transaction, the chief executive officer owned 159,126 shares of the company’s stock, valued at approximately $18,460,207.26. The trade was a 2.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 63,296 shares of company stock worth $7,287,745 over the last quarter. Company insiders own 14.10% of the company’s stock.

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.