80,000 Shares in Coastal Financial Corporation (CCB) Acquired by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Coastal Financial Corporation (NYSE:CCB) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 80,000 shares of the company’s stock, valued at approximately $1,360,000.

Separately, Victory Capital Management Inc. purchased a new stake in Coastal Financial in the third quarter worth approximately $170,000.

Shares of CCB stock opened at $16.40 on Tuesday. Coastal Financial Corporation has a 12-month low of $14.60 and a 12-month high of $18.90.

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

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

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Coastal Financial 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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