Ashton Thomas Private Wealth LLC Buys Shares of 4,404 Coastal Financial Co. (NASDAQ:CCB)

Ashton Thomas Private Wealth LLC acquired a new position in Coastal Financial Co. (NASDAQ:CCB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,404 shares of the company's stock, valued at approximately $374,000.

Other large investors have also added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in Coastal Financial in the third quarter worth about $31,000. FMR LLC increased its position in shares of Coastal Financial by 21.0% during the 3rd quarter. FMR LLC now owns 1,316 shares of the company's stock valued at $71,000 after purchasing an additional 228 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in Coastal Financial during the 4th quarter valued at $87,000. Quantbot Technologies LP bought a new stake in Coastal Financial in the third quarter worth $119,000. Finally, USA Financial Formulas purchased a new position in Coastal Financial during the fourth quarter worth $122,000. Institutional investors own 59.24% of the company's stock.

Coastal Financial Trading Up 2.7 %

CCB traded up $2.19 on Friday, reaching $84.13. 83,943 shares of the company traded hands, compared to its average volume of 81,272. The company has a market cap of $1.14 billion, a P/E ratio of 25.89 and a beta of 1.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial Co. has a one year low of $35.67 and a one year high of $102.25. The firm has a fifty day simple moving average of $87.54 and a two-hundred day simple moving average of $72.95.

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Coastal Financial (NASDAQ:CCB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. As a group, equities research analysts expect that Coastal Financial Co. will post 4.59 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CCB shares. Raymond James restated a "strong-buy" rating and issued a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Stephens reissued an "overweight" rating and issued a $100.00 price objective on shares of Coastal Financial in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods upped their target price on Coastal Financial from $96.00 to $114.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th.

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.