Eric Sprink Purchases 10,000 Shares of Coastal Financial (NASDAQ:CCB) Stock

Coastal Financial Corporation (NASDAQ:CCB) CEO Eric Sprink acquired 10,000 shares of the stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $44.45 per share, for a total transaction of $444,500.00. Following the purchase, the chief executive officer directly owned 173,238 shares of the company’s stock, valued at $7,700,429.10. The trade was a 6.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Coastal Financial Stock Up 3.2%

Shares of NASDAQ:CCB opened at $45.34 on Friday. Coastal Financial Corporation has a 52-week low of $36.61 and a 52-week high of $120.05. The stock has a market cap of $691.43 million, a P/E ratio of -161.92 and a beta of 0.76. The business has a fifty day moving average of $70.26 and a two-hundred day moving average of $77.57. 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 results on Thursday, July 30th. The company reported ($2.76) EPS for the quarter, missing the consensus estimate of $1.01 by ($3.77). The company had revenue of $178.07 million for the quarter, compared to analysts’ expectations of $148.50 million. Coastal Financial had a negative return on equity of 0.79% and a negative net margin of 0.53%. On average, research analysts expect that Coastal Financial Corporation will post 1.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price target 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. Raymond James Financial lowered shares of Coastal Financial from a “strong-buy” rating to an “outperform” rating and set a $50.00 price target on the stock. in a research report on Friday, July 31st. TD Cowen lowered 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 target price on shares of Coastal Financial in a research report on Friday, May 1st. Finally, Zacks Research cut Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coastal Financial has an average rating of “Moderate Buy” and a consensus target price of $91.33.

Coastal Financial News Summary

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 Inflows and Outflows

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

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.