Insider Buying: Coastal Financial (NASDAQ:CCB) Director Purchases $220,000.00 in Stock

Coastal Financial Corporation (NASDAQ:CCB) Director Steven Hovde acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were purchased at an average price of $44.00 per share, with a total value of $220,000.00. Following the completion of the transaction, the director owned 16,500 shares of the company’s stock, valued at $726,000. The trade was a 43.48% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Coastal Financial Stock Performance

NASDAQ:CCB opened at $45.34 on Monday. The company’s 50-day moving average is $70.26 and its two-hundred day moving average is $77.32. Coastal Financial Corporation has a 1-year low of $36.61 and a 1-year high of $120.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03. The firm has a market capitalization of $691.43 million, a price-to-earnings ratio of -161.92 and a beta of 0.77.

Coastal Financial (NASDAQ:CCB) last announced 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 analyst estimates of $148.50 million. Coastal Financial had a negative return on equity of 0.79% and a negative net margin of 0.53%. Analysts forecast that Coastal Financial Corporation will post 1.26 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of Coastal Financial by 129.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock worth $34,000 after buying an additional 169 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Coastal Financial in the 4th quarter valued at $50,000. Smartleaf Asset Management LLC lifted its stake in Coastal Financial by 20,700.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $72,000 after acquiring an additional 621 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Coastal Financial by 229.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock worth $80,000 after acquiring an additional 576 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Coastal Financial by 521.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock valued at $122,000 after acquiring an additional 1,059 shares during the period. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CCB shares. Raymond James Financial downgraded Coastal Financial from a “strong-buy” rating to an “outperform” rating and set a $50.00 target price on the stock. in a research report on Friday, July 31st. TD Cowen cut their price objective on Coastal Financial from $110.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Stephens restated an “overweight” rating and issued a $110.00 price objective on shares of Coastal Financial in a report on Friday, May 1st. Zacks Research cut shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods lowered their target price 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. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Coastal Financial has a consensus rating of “Moderate Buy” and an average price target of $91.33.

More Coastal Financial News

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

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.