Militia Capital Partners LP Has $1.08 Million Stake in Coastal Financial Corporation $CCB

Militia Capital Partners LP lowered its position in shares of Coastal Financial Corporation (NASDAQ:CCB) by 69.6% during the third quarter, HoldingsChannel.com reports. The fund owned 10,000 shares of the company’s stock after selling 22,900 shares during the quarter. Militia Capital Partners LP’s holdings in Coastal Financial were worth $1,082,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Lisanti Capital Growth LLC bought a new position in shares of Coastal Financial in the 3rd quarter worth about $3,533,000. D.A. Davidson & CO. bought a new stake in shares of Coastal Financial during the 3rd quarter valued at about $13,580,000. Ranger Investment Management L.P. acquired a new stake in Coastal Financial during the third quarter worth approximately $16,895,000. American Century Companies Inc. grew its stake in Coastal Financial by 5.9% during the third quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock worth $55,226,000 after purchasing an additional 28,616 shares during the period. Finally, Azora Capital LP increased its holdings in Coastal Financial by 26.4% in the second quarter. Azora Capital LP now owns 751,098 shares of the company’s stock worth $72,759,000 after purchasing an additional 156,956 shares in the last quarter. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Coastal Financial Stock Up 0.4%

CCB stock opened at $77.24 on Tuesday. The stock’s 50 day simple moving average is $92.94 and its 200 day simple moving average is $104.21. The company has a market cap of $1.17 billion, a P/E ratio of 25.41 and a beta of 0.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.06. Coastal Financial Corporation has a fifty-two week low of $70.72 and a fifty-two week high of $120.05.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.34). The firm had revenue of $56.49 million during the quarter, compared to analyst estimates of $140.81 million. Coastal Financial had a net margin of 7.11% and a return on equity of 10.01%. On average, research analysts expect that Coastal Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Eric M. Sprink sold 8,778 shares of Coastal Financial stock in a transaction on Monday, January 5th. The shares were sold at an average price of $114.95, for a total value of $1,009,031.10. Following the completion of the sale, the chief executive officer owned 193,884 shares of the company’s stock, valued at approximately $22,286,965.80. This trade represents a 4.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Joel G. Edwards sold 1,300 shares of the business’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $111.34, for a total transaction of $144,742.00. Following the sale, the chief financial officer owned 11,462 shares of the company’s stock, valued at $1,276,179.08. This trade represents a 10.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 53,185 shares of company stock worth $6,127,817. 14.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CCB shares. Keefe, Bruyette & Woods dropped their price target on Coastal Financial from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings downgraded shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 2nd. Zacks Research downgraded shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. UBS Group set a $155.00 target price on shares of Coastal Financial in a research note on Friday, December 5th. Finally, Wall Street Zen upgraded shares of Coastal Financial from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Coastal Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.00.

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.