Quantinno Capital Management LP Has $1.93 Million Holdings in Coastal Financial Corporation $CCB

Quantinno Capital Management LP increased its holdings in Coastal Financial Corporation (NASDAQ:CCB) by 1,026.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,377 shares of the company’s stock after purchasing an additional 23,125 shares during the period. Quantinno Capital Management LP owned approximately 0.17% of Coastal Financial worth $1,931,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Quent Capital LLC acquired a new position in shares of Coastal Financial during the 4th quarter valued at about $2,279,000. Mendon Capital Advisors Corp raised its stake in shares of Coastal Financial by 86.7% in the 1st quarter. Mendon Capital Advisors Corp now owns 56,000 shares of the company’s stock valued at $4,262,000 after acquiring an additional 26,000 shares in the last quarter. Phocas Financial Corp. acquired a new stake in Coastal Financial in the 4th quarter worth approximately $3,948,000. Cooper Creek Partners Management LLC boosted its position in Coastal Financial by 105.0% during the first quarter. Cooper Creek Partners Management LLC now owns 450,134 shares of the company’s stock worth $34,255,000 after purchasing an additional 230,537 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Coastal Financial by 7.6% during the first quarter. Dimensional Fund Advisors LP now owns 359,571 shares of the company’s stock worth $27,361,000 after purchasing an additional 25,424 shares during the period. 59.24% of the stock is owned by institutional investors and hedge funds.

Coastal Financial Stock Performance

Shares of NASDAQ CCB opened at $51.86 on Wednesday. Coastal Financial Corporation has a 12 month low of $36.61 and a 12 month high of $120.05. The company has a market cap of $792.94 million, a P/E ratio of -185.21 and a beta of 0.76. The business’s 50 day moving average is $69.43 and its two-hundred day moving average is $76.45. 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 (NASDAQ:CCB) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($2.76) earnings per share for the quarter, missing the consensus estimate of $1.01 by ($3.77). The business had revenue of $178.07 million during the quarter, compared to the consensus estimate of $148.50 million. Coastal Financial had a negative net margin of 0.53% and a negative return on equity of 0.79%. On average, equities analysts expect that Coastal Financial Corporation will post 1.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stephens reiterated an “overweight” rating and set a $110.00 price target on shares of Coastal Financial in a report on Friday, May 1st. Keefe, Bruyette & Woods reduced their price objective on shares of Coastal Financial from $95.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coastal Financial in a research note on Monday, June 29th. Finally, TD Cowen dropped their target price on shares of Coastal Financial from $110.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Coastal Financial has an average rating of “Moderate Buy” and a consensus target price of $91.33.

Insiders Place Their Bets

In related news, CEO Eric M. Sprink acquired 10,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was acquired at an average price of $44.45 per share, with a total value of $444,500.00. Following the completion of the transaction, the chief executive officer owned 173,238 shares of the company’s stock, valued at approximately $7,700,429.10. This represents a 6.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven D. Hovde bought 10,000 shares of Coastal Financial stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average price of $43.83 per share, with a total value of $438,300.00. Following the purchase, the director owned 26,500 shares of the company’s stock, valued at $1,161,495. This trade represents a 60.61% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 25,290 shares of company stock valued at $1,115,894. Insiders own 13.49% 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.