Coastal Financial (NASDAQ:CCB) Insider Christopher Adams Acquires 290 Shares of Stock

Coastal Financial Corporation (NASDAQ:CCB) insider Christopher Adams bought 290 shares of the company’s stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $45.15 per share, for a total transaction of $13,093.50. Following the transaction, the insider owned 30,407 shares in the company, valued at $1,372,876.05. The trade was a 0.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Coastal Financial Trading Up 3.2%

NASDAQ CCB opened at $45.34 on Friday. Coastal Financial Corporation has a 12-month low of $36.61 and a 12-month high of $120.05. The company has a fifty day simple moving average of $70.26 and a two-hundred day simple moving average of $77.57. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.10. The stock has a market cap of $691.43 million, a P/E ratio of -161.92 and a beta of 0.76.

Coastal Financial (NASDAQ:CCB) last released its earnings results on Thursday, July 30th. The company reported ($2.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($3.77). The firm had revenue of $178.07 million during the quarter, compared to analyst estimates of $148.50 million. Coastal Financial had a negative net margin of 0.53% and a negative return on equity of 0.79%. On average, analysts forecast that Coastal Financial Corporation will post 1.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CCB. Bank of New York Mellon Corp purchased a new stake in Coastal Financial in the 2nd quarter worth approximately $3,013,000. First Bank & Trust increased its holdings in shares of Coastal Financial by 5.5% during the 2nd quarter. First Bank & Trust now owns 12,012 shares of the company’s stock valued at $931,000 after purchasing an additional 630 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Coastal Financial by 71.2% during the 1st quarter. Bank of America Corp DE now owns 86,657 shares of the company’s stock valued at $6,595,000 after purchasing an additional 36,045 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Coastal Financial by 1.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 337,819 shares of the company’s stock valued at $25,708,000 after purchasing an additional 4,611 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of Coastal Financial by 1,026.9% in the 1st quarter. Quantinno Capital Management LP now owns 25,377 shares of the company’s stock valued at $1,931,000 after purchasing an additional 23,125 shares during the period. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CCB. TD Cowen decreased their target price on Coastal Financial from $110.00 to $47.00 and set a “buy” rating for the company in a report 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 for the company. in a research report on Friday, July 31st. Zacks Research cut shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price objective on shares of Coastal Financial from $95.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Finally, Stephens reiterated an “overweight” rating and issued a $110.00 price objective on shares of Coastal Financial in a research note on Friday, May 1st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.33.

Key Stories Impacting Coastal Financial

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

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.