Coastal Financial Corporation’s Lock-Up Period Set To End Tomorrow (NYSE:CCB)
Coastal Financial’s (NYSE:CCB) lock-up period is set to expire on Monday, January 14th. Coastal Financial had issued 2,850,000 shares in its public offering on July 18th. The total size of the offering was $41,325,000 based on an initial share price of $14.50. After the expiration of Coastal Financial’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
Shares of CCB stock opened at $15.13 on Friday. Coastal Financial has a fifty-two week low of $11.85 and a fifty-two week high of $18.90.
Coastal Financial (NYSE:CCB) last announced its quarterly earnings data on Tuesday, October 23rd. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $10.39 million during the quarter.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. EJF Capital LLC purchased a new position in shares of Coastal Financial during the 3rd quarter worth $17,596,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Coastal Financial during the 3rd quarter worth $7,531,000. BlackRock Inc. purchased a new position in shares of Coastal Financial during the 3rd quarter worth $4,966,000. Putnam Investments LLC purchased a new position in shares of Coastal Financial during the 3rd quarter worth $2,183,000. Finally, Banc Funds Co. LLC purchased a new position in shares of Coastal Financial during the 3rd quarter worth $1,700,000.
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Coastal Financial Company Profile
Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to consumers and small to medium sized businesses in the Puget Sound region in Washington. It generates a range of deposit products, including checking and savings accounts, time deposits, and money market accounts.
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