Rosenthal Henry Capital Advisors Inc. Purchases 20,525 Shares of Coastal Financial Co. (NASDAQ:CCB)

Rosenthal Henry Capital Advisors Inc. grew its position in shares of Coastal Financial Co. (NASDAQ:CCB) by 214.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,116 shares of the company’s stock after acquiring an additional 20,525 shares during the quarter. Rosenthal Henry Capital Advisors Inc.’s holdings in Coastal Financial were worth $1,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CCB. nVerses Capital LLC increased its holdings in shares of Coastal Financial by 300.0% during the third quarter. nVerses Capital LLC now owns 800 shares of the company’s stock valued at $43,000 after acquiring an additional 600 shares in the last quarter. EntryPoint Capital LLC grew its holdings in Coastal Financial by 642.4% during the first 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 bought a new stake in Coastal Financial during the first quarter worth $207,000. Allspring Global Investments Holdings LLC grew its holdings in Coastal Financial by 22,360.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company’s stock worth $207,000 after buying an additional 4,472 shares in the last quarter. Finally, Creative Planning bought a new stake in Coastal Financial during the third quarter worth $298,000. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Stock Performance

CCB stock traded up $0.27 during midday trading on Friday, hitting $63.26. The company’s stock had a trading volume of 78,883 shares, compared to its average volume of 58,624. The stock’s 50-day moving average price is $54.75 and its 200 day moving average price is $48.72. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. Coastal Financial Co. has a 1 year low of $35.67 and a 1 year high of $68.00. The stock has a market cap of $851.48 million, a price-to-earnings ratio of 21.30 and a beta of 1.24.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. Coastal Financial had a return on equity of 14.16% and a net margin of 5.98%. The business had revenue of $185.15 million for the quarter, compared to analysts’ expectations of $154.30 million. On average, equities analysts forecast that Coastal Financial Co. will post 3.55 EPS for the current year.

Insider Activity

In other news, Director Steven D. Hovde sold 2,003 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $53.26, for a total transaction of $106,679.78. Following the transaction, the director now owns 27,997 shares of the company’s stock, valued at $1,491,120.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Steven D. Hovde sold 2,003 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $53.26, for a total transaction of $106,679.78. Following the transaction, the director now owns 27,997 shares of the company’s stock, valued at $1,491,120.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric M. Sprink sold 7,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $65.93, for a total value of $461,510.00. Following the transaction, the chief executive officer now directly owns 251,388 shares in the company, valued at $16,574,010.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,495 shares of company stock valued at $3,901,426 in the last 90 days. Insiders own 16.82% of the company’s stock.

Wall Street Analyst Weigh In

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

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.