TheStreet Lowers Coastal Financial (NYSE:CCB) to D+

TheStreet lowered shares of Coastal Financial (NYSE:CCB) from a c rating to a d+ rating in a research note published on Monday, TheStreetRatingsTable reports.

Shares of Coastal Financial stock traded up $0.02 during trading hours on Monday, hitting $14.00. The company’s stock had a trading volume of 27,500 shares, compared to its average volume of 27,056. Coastal Financial has a twelve month low of $8.41 and a twelve month high of $18.58. The firm has a fifty day moving average of $15.15 and a 200-day moving average of $16.00.

Coastal Financial (NYSE:CCB) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The business had revenue of $13.39 million during the quarter.

In other Coastal Financial news, Director Andrew P. Skotdal purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were acquired at an average price of $16.02 per share, with a total value of $64,080.00.

Several institutional investors have recently made changes to their positions in CCB. Stifel Financial Corp lifted its stake in shares of Coastal Financial by 27.8% in the 4th quarter. Stifel Financial Corp now owns 140,350 shares of the company’s stock valued at $2,304,000 after purchasing an additional 30,506 shares during the last quarter. First Trust Advisors LP purchased a new stake in Coastal Financial during the 3rd quarter worth about $265,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Coastal Financial in the 4th quarter valued at about $277,000. Globeflex Capital L P purchased a new position in shares of Coastal Financial in the 4th quarter valued at about $271,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Coastal Financial by 12.4% in the 4th quarter. Alliancebernstein L.P. now owns 148,703 shares of the company’s stock valued at $2,449,000 after acquiring an additional 16,377 shares during the last quarter.

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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