Coastal Financial Corporation (CCB) Director Buys $72,500.00 in Stock

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Coastal Financial Corporation (NYSE:CCB) Director Christopher D. Adams bought 5,000 shares of Coastal Financial stock in a transaction dated Wednesday, July 18th. The shares were acquired at an average cost of $14.50 per share, for a total transaction of $72,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of CCB stock opened at $16.05 on Friday. Coastal Financial Corporation has a twelve month low of $14.60 and a twelve month high of $18.90.

Coastal Financial (NYSE:CCB) last issued its quarterly earnings results on Tuesday, October 23rd. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The company had revenue of $10.39 million during the quarter.

Several equities analysts have recently issued reports on CCB shares. Hovde Group started coverage on Coastal Financial in a research note on Monday, August 13th. They set an “outperform” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods began coverage on Coastal Financial in a research note on Sunday, August 12th. They issued a “market perform” rating and a $17.00 price target on the stock.

Hedge funds have recently modified their holdings of the stock. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Coastal Financial in the third quarter worth $1,360,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Coastal Financial in the third quarter worth $7,531,000. Alliancebernstein L.P. purchased a new stake in Coastal Financial in the third quarter worth $1,360,000. Finally, Victory Capital Management Inc. purchased a new stake in Coastal Financial in the third quarter worth $170,000.

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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 consumers and small to medium sized businesses in the Puget Sound region in Washington. It generates a range of deposit products, including checking and savings accounts, time deposits, and money market accounts.

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