Coastal Financial Corporation $CCB Shares Sold by Elizabeth Park Capital Advisors Ltd.

Elizabeth Park Capital Advisors Ltd. trimmed its holdings in Coastal Financial Corporation (NASDAQ:CCB) by 34.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,011 shares of the company’s stock after selling 9,900 shares during the quarter. Coastal Financial makes up about 1.8% of Elizabeth Park Capital Advisors Ltd.’s holdings, making the stock its 29th biggest position. Elizabeth Park Capital Advisors Ltd. owned 0.13% of Coastal Financial worth $2,178,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CCB. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Coastal Financial by 364.1% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,764 shares of the company’s stock valued at $18,255,000 after purchasing an additional 132,403 shares during the period. UBS Group AG increased its stake in Coastal Financial by 158.7% in the 3rd quarter. UBS Group AG now owns 166,185 shares of the company’s stock valued at $17,976,000 after buying an additional 101,935 shares during the period. Next Century Growth Investors LLC increased its stake in Coastal Financial by 130.0% in the 4th quarter. Next Century Growth Investors LLC now owns 178,224 shares of the company’s stock valued at $20,423,000 after buying an additional 100,731 shares during the period. Loomis Sayles & Co. L P increased its stake in Coastal Financial by 43.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 330,230 shares of the company’s stock valued at $37,841,000 after buying an additional 100,661 shares during the period. Finally, Cooper Creek Partners Management LLC increased its stake in Coastal Financial by 108.7% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 162,099 shares of the company’s stock valued at $17,534,000 after buying an additional 84,438 shares during the period. Institutional investors and hedge funds own 59.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research cut shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. TD Cowen dropped their price objective on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Stephens reissued an “overweight” rating and issued a $110.00 price objective on shares of Coastal Financial in a research note on Friday, May 1st. Finally, Weiss Ratings cut shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Four equities research 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, the company presently has an average rating of “Moderate Buy” and an average price target of $122.60.

Coastal Financial Stock Performance

NASDAQ:CCB opened at $70.34 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. Coastal Financial Corporation has a fifty-two week low of $66.50 and a fifty-two week high of $120.05. The stock has a market cap of $1.07 billion, a PE ratio of 22.05 and a beta of 0.72. The firm’s fifty day simple moving average is $74.88 and its 200-day simple moving average is $88.95.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%.The company had revenue of $56.30 million for the quarter, compared to analyst estimates of $138.63 million. Analysts expect that Coastal Financial Corporation will post 4.56 earnings per share for the current fiscal year.

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.