Curi RMB Capital LLC Sells 10,000 Shares of Coastal Financial Co. (NASDAQ:CCB)

Curi RMB Capital LLC lessened its position in Coastal Financial Co. (NASDAQ:CCB) by 25.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,000 shares of the company’s stock after selling 10,000 shares during the period. Curi RMB Capital LLC’s holdings in Coastal Financial were worth $1,620,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in Coastal Financial by 18.0% during the 1st quarter. BNP Paribas Financial Markets now owns 11,572 shares of the company’s stock worth $450,000 after buying an additional 1,766 shares in the last quarter. Vanguard Group Inc. lifted its position in Coastal Financial by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 598,601 shares of the company’s stock worth $23,268,000 after buying an additional 5,592 shares in the last quarter. EntryPoint Capital LLC lifted its position in Coastal Financial by 642.4% during the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock worth $65,000 after buying an additional 1,439 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Coastal Financial during the 1st quarter worth about $207,000. Finally, Kennedy Capital Management LLC lifted its position in Coastal Financial by 3.1% during the 1st quarter. Kennedy Capital Management LLC now owns 275,383 shares of the company’s stock worth $10,704,000 after buying an additional 8,230 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CCB. Raymond James boosted their price objective on Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods upped their price target on Coastal Financial from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Hovde Group increased their target price on Coastal Financial from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th.

Coastal Financial Trading Up 0.0 %

NASDAQ:CCB opened at $73.32 on Friday. The company has a market cap of $993.05 million, a P/E ratio of 24.69 and a beta of 1.22. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial Co. has a twelve month low of $35.67 and a twelve month high of $74.58. The business has a 50 day moving average price of $58.35 and a two-hundred day moving average price of $50.87.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Monday, October 28th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. Coastal Financial had a return on equity of 13.86% and a net margin of 5.98%. The company had revenue of $185.15 million during the quarter, compared to the consensus estimate of $154.30 million. As a group, analysts expect that Coastal Financial Co. will post 3.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jonathan E. Sand sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $74.15, for a total value of $74,150.00. Following the sale, the executive vice president now directly owns 19,611 shares of the company’s stock, valued at $1,454,155.65. This trade represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric M. Sprink sold 7,302 shares of Coastal Financial stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $50.13, for a total value of $366,049.26. Following the sale, the chief executive officer now directly owns 316,912 shares in the company, valued at $15,886,798.56. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,977 shares of company stock worth $4,428,296 in the last 90 days. Company insiders own 16.82% of the company’s stock.

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 small and medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts.