Christopher Adams Buys 290 Shares of Coastal Financial (NASDAQ:CCB) Stock

Coastal Financial Corporation (NASDAQ:CCB) insider Christopher Adams bought 290 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $45.15 per share, for a total transaction of $13,093.50. Following the completion of the transaction, the insider owned 30,407 shares in the company, valued at $1,372,876.05. This trade represents a 0.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Coastal Financial Price Performance

Shares of NASDAQ:CCB opened at $45.34 on Friday. Coastal Financial Corporation has a 12 month low of $36.61 and a 12 month high of $120.05. The stock has a market cap of $691.43 million, a price-to-earnings ratio of -161.92 and a beta of 0.76. The stock’s 50 day moving average price is $70.26 and its 200 day moving average price is $77.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($2.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($3.77). The firm had revenue of $178.07 million for 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%. Equities research analysts anticipate that Coastal Financial Corporation will post 1.26 earnings per share for the current fiscal year.

Coastal Financial News Roundup

Here are the key news stories impacting Coastal Financial this week:

• Positive Sentiment: Company insiders made substantial open-market purchases. CEO Eric M. Sprink bought 10,000 shares for approximately $444,500, while Director Steven D. Hovde purchased 15,000 shares in two transactions totaling about $658,300. Christopher D. Adams also bought 290 shares. These purchases can signal that management and directors view the recent decline as an attractive entry point, although insider buying does not guarantee a recovery. CEO SEC filing Director SEC filing
• Neutral Sentiment: A regional-bank second-quarter comparison article highlighted Coastal Financial alongside peers, but the supplied report provides no specific new operating conclusions or estimates that would materially change the investment outlook. Regional banks second-quarter comparison
• Negative Sentiment: Kaplan Fox, Bleichmar Fonti & Auld, and Pomerantz announced investigations into potential securities-law violations or securities fraud following Coastal Financial’s significant stock decline. These announcements increase headline, litigation and reputational risk, although they do not establish that wrongdoing occurred. Kaplan Fox investigation Bleichmar Fonti investigation Pomerantz investigation
• Negative Sentiment: Zacks Research downgraded CCB from “hold” to “strong sell,” reinforcing concerns about the company’s outlook. Its latest quarterly results also showed a substantial EPS loss versus expectations, despite revenue exceeding estimates, suggesting profitability—not demand—is the primary concern. Zacks Research

Institutional Trading of Coastal Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in Coastal Financial in the 2nd quarter worth approximately $3,013,000. First Bank & Trust grew its holdings in Coastal Financial by 5.5% during the second quarter. First Bank & Trust now owns 12,012 shares of the company’s stock valued at $931,000 after purchasing an additional 630 shares during the last quarter. Bank of America Corp DE raised its position in shares of Coastal Financial by 71.2% in the first quarter. Bank of America Corp DE now owns 86,657 shares of the company’s stock valued at $6,595,000 after purchasing an additional 36,045 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Coastal Financial by 1.4% in the first quarter. The Manufacturers Life Insurance Company now owns 337,819 shares of the company’s stock valued at $25,708,000 after purchasing an additional 4,611 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of Coastal Financial by 1,026.9% in the first quarter. Quantinno Capital Management LP now owns 25,377 shares of the company’s stock worth $1,931,000 after buying an additional 23,125 shares during the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wall Street Zen raised Coastal Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. TD Cowen dropped their price target on Coastal Financial from $110.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Raymond James Financial downgraded Coastal Financial from a “strong-buy” rating to an “outperform” rating and set a $50.00 price objective on the stock. in a report on Friday, July 31st. Stephens reaffirmed an “overweight” rating and set a $110.00 price objective on shares of Coastal Financial in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Coastal Financial from $95.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.33.

About Coastal Financial

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.