Mesirow Financial Investment Management Inc. Sells 1,091 Shares of Coastal Financial Co. (NASDAQ:CCB)

Mesirow Financial Investment Management Inc. decreased its position in Coastal Financial Co. (NASDAQ:CCB) by 17.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,297 shares of the company’s stock after selling 1,091 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Coastal Financial were worth $286,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CCB. BNP Paribas Financial Markets grew its holdings in shares of Coastal Financial by 18.0% in the 1st quarter. BNP Paribas Financial Markets now owns 11,572 shares of the company’s stock valued at $450,000 after acquiring an additional 1,766 shares in the last quarter. Vanguard Group Inc. increased its holdings in Coastal Financial by 0.9% during the first quarter. Vanguard Group Inc. now owns 598,601 shares of the company’s stock worth $23,268,000 after buying an additional 5,592 shares during the last quarter. EntryPoint Capital LLC raised its position 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 acquiring an additional 1,439 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Coastal Financial in the first quarter valued at $207,000. Finally, Kennedy Capital Management LLC grew its position in shares of Coastal Financial by 3.1% in the 1st quarter. Kennedy Capital Management LLC now owns 275,383 shares of the company’s stock valued at $10,704,000 after acquiring an additional 8,230 shares during the period. Institutional investors and hedge funds own 59.24% of the company’s stock.

Insider Buying and Selling

In other news, EVP Jonathan E. Sand sold 1,000 shares of Coastal Financial stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $74.15, for a total value of $74,150.00. Following the completion of the sale, the executive vice president now directly owns 19,611 shares in the company, valued at approximately $1,454,155.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Eric M. Sprink sold 3,482 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $71.14, for a total transaction of $247,709.48. Following the completion of the sale, the chief executive officer now owns 244,906 shares of the company’s stock, valued at $17,422,612.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jonathan E. Sand sold 1,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $74.15, for a total transaction of $74,150.00. Following the sale, the executive vice president now owns 19,611 shares in the company, valued at $1,454,155.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,977 shares of company stock valued at $4,428,296. 16.82% of the stock is owned by company insiders.

Coastal Financial Trading Up 0.2 %

Shares of NASDAQ:CCB opened at $72.51 on Wednesday. Coastal Financial Co. has a 12-month low of $35.67 and a 12-month high of $74.25. The business has a 50 day moving average of $56.99 and a 200-day moving average of $50.31. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The stock has a market cap of $975.98 million, a PE ratio of 24.41 and a beta of 1.22.

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

Analyst Ratings Changes

Several brokerages recently issued reports on CCB. Hovde Group raised their target price on shares of Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price target on Coastal Financial from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Raymond James lifted their price objective on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th.

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 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.