Coastal Financial eyes recovery after Monday selloff
CCB•Coastal Financial shares rose 4.9% to $39.37 after falling 16% on Monday, when Valley National Bancorp announced a roughly $340 million deal to buy Bluevine, a Coastal Financial fintech partner.
1. Shares rebound
Coastal Financial shares rose 4.9% to $39.37 after Monday’s 16% selloff. Valley National Bancorp announced a roughly $340 million deal to buy Bluevine, a Coastal Financial financial technology partner.
2. Partnership transition
Bluevine’s existing partner-bank program will end when the acquisition closes, which is expected in early 2027. Raymond James analyst Joseph Yanchunis called the announcement a modest negative for Coastal Financial, saying an established and rapidly growing CCBX relationship will ultimately migrate to Valley. Stephens analyst Andrew Terrell said the impact was not as material as Monday’s market move.
3. Analyst ratings
All four brokerages covering Coastal Financial rate the stock “buy” or higher, with a median price target of $51.50. The stock was down 67% year to date as of its last close.
