Boothbay Fund Management LLC Buys 18,705 Shares of Coastal Financial Co. (NASDAQ:CCB)

Boothbay Fund Management LLC boosted its stake in Coastal Financial Co. (NASDAQ:CCB) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,130 shares of the company’s stock after purchasing an additional 18,705 shares during the quarter. Boothbay Fund Management LLC owned approximately 0.90% of Coastal Financial worth $10,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CCB. Tower Research Capital LLC TRC boosted its stake in Coastal Financial by 179.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock worth $61,000 after buying an additional 461 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Coastal Financial in the 4th quarter worth approximately $64,000. New York State Teachers Retirement System purchased a new stake in shares of Coastal Financial in the 4th quarter valued at $87,000. USA Financial Formulas bought a new position in shares of Coastal Financial during the 4th quarter valued at $122,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Coastal Financial in the 4th quarter worth $178,000. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Coastal Financial Price Performance

CCB stock opened at $88.08 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 27.10 and a beta of 1.00. The firm has a 50 day moving average price of $86.50 and a 200-day moving average price of $80.36. Coastal Financial Co. has a 52-week low of $37.51 and a 52-week high of $102.25.

Coastal Financial (NASDAQ:CCB) last released its earnings results on Tuesday, February 4th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. Equities research analysts forecast that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CCB shares. Keefe, Bruyette & Woods raised their price target on Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Stephens restated an “overweight” rating and issued a $100.00 target price on shares of Coastal Financial in a report on Tuesday, March 18th. Finally, Raymond James reaffirmed a “strong-buy” rating on shares of Coastal Financial in a research note on Wednesday, April 2nd.

Insider Buying and Selling at Coastal Financial

In related news, Director Gregory A. Tisdel sold 1,600 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $79.07, for a total transaction of $126,512.00. Following the sale, the director now directly owns 14,006 shares of the company’s stock, valued at $1,107,454.42. This trade represents a 10.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 16.82% of the stock is owned by company insiders.

About Coastal Financial

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.