Coastal Financial Co. (NASDAQ:CCB) Position Reduced by Curi RMB Capital LLC

Curi RMB Capital LLC trimmed its stake in shares of Coastal Financial Co. (NASDAQ:CCB) by 25.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the company’s stock after selling 10,000 shares during the quarter. Curi RMB Capital LLC owned approximately 0.22% of Coastal Financial worth $1,620,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. nVerses Capital LLC lifted its position in shares of Coastal Financial by 300.0% in the 3rd quarter. nVerses Capital LLC now owns 800 shares of the company’s stock worth $43,000 after buying an additional 600 shares during the last quarter. EntryPoint Capital LLC lifted its position in shares of Coastal Financial by 642.4% in the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock worth $65,000 after buying an additional 1,439 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Coastal Financial in the 1st quarter worth about $207,000. Allspring Global Investments Holdings LLC lifted its position in shares of Coastal Financial by 22,360.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company’s stock worth $207,000 after buying an additional 4,472 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its position in Coastal Financial by 3.7% in the 3rd quarter. Portside Wealth Group LLC now owns 4,669 shares of the company’s stock valued at $252,000 after purchasing an additional 166 shares during the last quarter. 59.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coastal Financial

In other news, EVP Jonathan E. Sand sold 1,000 shares of Coastal Financial stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $74.15, for a total value of $74,150.00. Following the transaction, the executive vice president now owns 19,611 shares of the company’s stock, valued at $1,454,155.65. This trade represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric M. Sprink sold 2,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $70.95, for a total transaction of $141,900.00. Following the transaction, the chief executive officer now directly owns 240,388 shares in the company, valued at $17,055,528.60. This trade represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,977 shares of company stock worth $4,428,296 over the last ninety days. 16.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

CCB has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Coastal Financial from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Hovde Group raised their target price on shares of Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Raymond James lifted their price objective on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th.

Coastal Financial Stock Performance

Shares of CCB opened at $73.32 on Friday. Coastal Financial Co. has a one year low of $35.67 and a one year high of $74.58. The company has a 50-day moving average of $58.35 and a two-hundred day moving average of $50.87. The stock has a market cap of $993.05 million, a price-to-earnings ratio of 24.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $185.15 million during the quarter, compared to analysts’ expectations of $154.30 million. Coastal Financial had a net margin of 5.98% and a return on equity of 13.86%. On average, equities research analysts expect that Coastal Financial Co. will post 3.55 earnings per share for the current year.

About Coastal Financial

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.