Coastal Financial Co. (NASDAQ:CCB) Stock Position Increased by Cox Capital Mgt LLC

Cox Capital Mgt LLC increased its holdings in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 44.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,614 shares of the company's stock after purchasing an additional 14,905 shares during the period. Coastal Financial accounts for 2.7% of Cox Capital Mgt LLC's holdings, making the stock its 10th biggest holding. Cox Capital Mgt LLC owned about 0.36% of Coastal Financial worth $4,128,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in Coastal Financial in the fourth quarter valued at about $339,000. JPMorgan Chase & Co. boosted its holdings in shares of Coastal Financial by 40.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company's stock valued at $6,321,000 after buying an additional 33,964 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Coastal Financial in the 3rd quarter worth approximately $377,000. Barclays PLC grew its position in shares of Coastal Financial by 60.0% in the 3rd quarter. Barclays PLC now owns 31,804 shares of the company's stock worth $1,719,000 after buying an additional 11,922 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Coastal Financial by 2.4% during the 3rd quarter. State Street Corp now owns 314,274 shares of the company's stock worth $16,968,000 after acquiring an additional 7,386 shares in the last quarter. 59.24% of the stock is owned by hedge funds and other institutional investors.

Coastal Financial Stock Performance

CCB stock traded up $0.51 during trading on Wednesday, reaching $85.44. The company had a trading volume of 102,631 shares, compared to its average volume of 135,026. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 28.77 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. Coastal Financial Co. has a twelve month low of $35.67 and a twelve month high of $88.60. The firm has a 50-day simple moving average of $78.85 and a 200-day simple moving average of $61.76.

Coastal Financial (NASDAQ:CCB - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.97 earnings per share 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 business had revenue of $185.15 million for the quarter, compared to the consensus estimate of $154.30 million. As a group, sell-side analysts expect that Coastal Financial Co. will post 3.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CCB shares. Keefe, Bruyette & Woods raised their target price on shares of Coastal Financial from $92.00 to $96.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Hovde Group raised their price objective on Coastal Financial from $67.00 to $76.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Finally, Raymond James boosted their target price on Coastal Financial from $61.00 to $73.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 29th.

Insider Activity at Coastal Financial

In related news, CEO Eric M. Sprink sold 3,705 shares of the business's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $60.01, for a total transaction of $222,337.05. Following the completion of the transaction, the chief executive officer now directly owns 275,683 shares in the company, valued at $16,543,736.83. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan E. Sand sold 1,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $74.15, for a total value of $74,150.00. Following the sale, the executive vice president now directly owns 19,611 shares in the company, valued at $1,454,155.65. This represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,346 shares of company stock worth $1,473,096 over the last quarter. Insiders own 16.82% of the company's stock.

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.