Insider Buying: Coastal Financial Corporation (NYSE:CCB) EVP Purchases 2,500 Shares of Stock

Coastal Financial Corporation (NYSE:CCB) EVP Daniel J. Lee purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $14.79 per share, for a total transaction of $36,975.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Coastal Financial stock traded down $0.05 during midday trading on Tuesday, reaching $14.76. 11,432 shares of the company’s stock traded hands, compared to its average volume of 15,473. The company’s 50 day simple moving average is $15.30 and its 200 day simple moving average is $15.98. Coastal Financial Corporation has a 52 week low of $11.85 and a 52 week high of $18.90.

Coastal Financial (NYSE:CCB) last released its quarterly earnings results on Friday, July 26th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $12.32 million for the quarter.

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of Coastal Financial by 808.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,535 shares of the company’s stock valued at $26,000 after purchasing an additional 1,366 shares in the last quarter. Advisor Group Inc. raised its holdings in Coastal Financial by 102.5% in the 2nd quarter. Advisor Group Inc. now owns 5,695 shares of the company’s stock worth $88,000 after acquiring an additional 2,883 shares during the period. Acadian Asset Management LLC raised its holdings in Coastal Financial by 155.6% in the 2nd quarter. Acadian Asset Management LLC now owns 6,070 shares of the company’s stock worth $94,000 after acquiring an additional 3,695 shares during the period. Parallel Advisors LLC bought a new position in Coastal Financial in the 1st quarter worth $119,000. Finally, First Bank & Trust raised its holdings in Coastal Financial by 210.2% in the 2nd quarter. First Bank & Trust now owns 15,682 shares of the company’s stock worth $243,000 after acquiring an additional 10,626 shares during the period.

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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