Alliancebernstein L.P. Sells 4,915 Shares of Coastal Financial Co. (NASDAQ:CCB)

Alliancebernstein L.P. lowered its stake in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,364 shares of the company's stock after selling 4,915 shares during the quarter. Alliancebernstein L.P. owned about 1.07% of Coastal Financial worth $12,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CCB. Point72 DIFC Ltd bought a new stake in Coastal Financial during the 3rd quarter valued at approximately $31,000. Meeder Asset Management Inc. bought a new stake in shares of Coastal Financial during the fourth quarter valued at approximately $64,000. New York State Teachers Retirement System purchased a new position in shares of Coastal Financial in the fourth quarter worth $87,000. FMR LLC boosted its position in shares of Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company's stock worth $71,000 after acquiring an additional 228 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in Coastal Financial during the fourth quarter valued at $122,000. 59.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CCB. Stephens restated an "overweight" rating and set a $100.00 price objective on shares of Coastal Financial in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods raised their price target on Coastal Financial from $96.00 to $114.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Finally, Raymond James reaffirmed a "strong-buy" rating on shares of Coastal Financial in a report on Wednesday, April 2nd.

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Coastal Financial Trading Up 3.4 %

Shares of NASDAQ:CCB traded up $2.70 during trading on Tuesday, hitting $82.25. The company had a trading volume of 9,166 shares, compared to its average volume of 88,841. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 25.31 and a beta of 1.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The company has a fifty day simple moving average of $87.25 and a two-hundred day simple moving average of $78.72. Coastal Financial Co. has a one year low of $37.30 and a one year high of $102.25.

Coastal Financial (NASDAQ:CCB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts forecast that Coastal Financial Co. will post 4.59 earnings per share for the current year.

About Coastal Financial

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.