Coastal Financial Corporation $CCB Shares Bought by Militia Capital Partners LP

Militia Capital Partners LP grew its stake in Coastal Financial Corporation (NASDAQ:CCB) by 90.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,000 shares of the company’s stock after purchasing an additional 9,000 shares during the period. Militia Capital Partners LP’s holdings in Coastal Financial were worth $2,177,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Thornburg Investment Management Inc. acquired a new position in shares of Coastal Financial in the 4th quarter valued at $2,206,000. MML Investors Services LLC boosted its holdings in shares of Coastal Financial by 16.0% in the 4th quarter. MML Investors Services LLC now owns 3,247 shares of the company’s stock valued at $372,000 after buying an additional 449 shares in the last quarter. Next Century Growth Investors LLC boosted its holdings in shares of 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 in the last quarter. Jacobs Asset Management LLC boosted its holdings in shares of Coastal Financial by 17.9% in the 4th quarter. Jacobs Asset Management LLC now owns 88,449 shares of the company’s stock valued at $10,135,000 after buying an additional 13,449 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Coastal Financial by 19.0% in the 4th quarter. Kennedy Capital Management LLC now owns 168,825 shares of the company’s stock valued at $19,346,000 after buying an additional 26,914 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Stephens restated an “overweight” rating and issued a $110.00 target price on shares of Coastal Financial in a report on Friday, May 1st. TD Cowen lowered their target price on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Keefe, Bruyette & Woods lowered their target price on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Wall Street Zen upgraded shares of Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. 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 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.60.

Coastal Financial Stock Up 1.3%

Shares of NASDAQ:CCB opened at $71.98 on Wednesday. Coastal Financial Corporation has a 1-year low of $66.50 and a 1-year high of $120.05. The stock has a market cap of $1.10 billion, a P/E ratio of 22.56 and a beta of 0.72. 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 fifty day moving average price of $75.05 and a 200 day moving average price of $89.24.

Coastal Financial (NASDAQ:CCB) last released its earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.24). Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%.The firm had revenue of $56.30 million during the quarter, compared to analyst estimates of $138.63 million. Sell-side analysts predict that Coastal Financial Corporation will post 4.56 EPS for the current year.

Coastal Financial 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.