BNP Paribas Financial Markets Buys 20,685 Shares of Coastal Financial Co. (NASDAQ:CCB)

BNP Paribas Financial Markets boosted its position in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 474.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,049 shares of the company's stock after acquiring an additional 20,685 shares during the period. BNP Paribas Financial Markets owned 0.19% of Coastal Financial worth $1,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Coastal Financial by 21.0% during the 3rd 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. Quantbot Technologies LP bought a new stake in shares of Coastal Financial in the 3rd quarter valued at $119,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Coastal Financial by 188.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company's stock worth $4,967,000 after acquiring an additional 60,106 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Coastal Financial during the third quarter worth about $214,000. Finally, Stieven Capital Advisors L.P. lifted its holdings in shares of Coastal Financial by 35.7% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 74,113 shares of the company's stock valued at $4,001,000 after purchasing an additional 19,500 shares in the last quarter. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coastal Financial

In related news, CEO Eric M. Sprink sold 7,302 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.13, for a total value of $366,049.26. Following the completion of the sale, the chief executive officer now directly owns 316,912 shares in the company, valued at approximately $15,886,798.56. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jonathan E. Sand sold 1,000 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $74.15, for a total value of $74,150.00. Following the completion of the transaction, the executive vice president now owns 19,611 shares in the company, valued at $1,454,155.65. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,921 shares of company stock worth $4,159,029. Insiders own 16.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CCB shares. Raymond James increased their price objective on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, October 29th. Hovde Group increased their target price on Coastal Financial from $67.00 to $76.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Coastal Financial from $75.00 to $92.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th.

Coastal Financial Stock Performance

CCB stock traded up $0.51 during trading hours on Tuesday, reaching $74.69. The stock had a trading volume of 51,045 shares, compared to its average volume of 60,290. The stock has a 50-day simple moving average of $66.25 and a 200 day simple moving average of $54.69. Coastal Financial Co. has a fifty-two week low of $35.67 and a fifty-two week high of $79.59. The stock has a market capitalization of $1.01 billion, a PE ratio of 24.98 and a beta of 1.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. Coastal Financial had a return on equity of 13.86% and a net margin of 5.98%. The firm had revenue of $185.15 million for the quarter, compared to analyst estimates of $154.30 million. Analysts predict that Coastal Financial Co. will post 3.55 EPS for the current fiscal 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.