Barclays PLC Buys 11,922 Shares of Coastal Financial Co. (NASDAQ:CCB)

Barclays PLC grew its position in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 60.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,804 shares of the company's stock after purchasing an additional 11,922 shares during the period. Barclays PLC owned approximately 0.23% of Coastal Financial worth $1,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its position in Coastal Financial by 2.4% in the third quarter. State Street Corp now owns 314,274 shares of the company's stock valued at $16,968,000 after purchasing an additional 7,386 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Coastal Financial by 7.5% in the 3rd quarter. Stifel Financial Corp now owns 70,925 shares of the company's stock valued at $3,829,000 after acquiring an additional 4,925 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Coastal Financial in the third quarter valued at about $2,034,000. Point72 DIFC Ltd bought a new stake in Coastal Financial during the third quarter worth about $31,000. Finally, Point72 Asset Management L.P. acquired a new position in Coastal Financial during the third quarter valued at approximately $221,000. 59.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coastal Financial

In other news, EVP Jonathan E. Sand sold 1,000 shares of Coastal Financial stock in a transaction on Monday, November 11th. The stock was sold at an average price of $74.15, for a total transaction of $74,150.00. Following the completion of the sale, the executive vice president now owns 19,611 shares of the company's stock, valued at approximately $1,454,155.65. This trade represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric M. Sprink sold 4,000 shares of the company's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $54.25, for a total transaction of $217,000.00. Following the completion of the transaction, the chief executive officer now owns 309,689 shares in the company, valued at $16,800,628.25. This trade represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,346 shares of company stock worth $2,947,336. Insiders own 16.82% of the company's stock.

Coastal Financial Stock Performance

Shares of NASDAQ CCB traded down $0.88 during midday trading on Friday, hitting $83.72. 114,431 shares of the company's stock were exchanged, compared to its average volume of 66,516. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.13 billion, a PE ratio of 28.19 and a beta of 1.24. Coastal Financial Co. has a 12 month low of $35.67 and a 12 month high of $86.27. The company's 50 day moving average price is $73.59 and its 200 day moving average price is $58.30.

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

Analyst Upgrades and Downgrades

CCB has been the topic of a number of analyst reports. Hovde Group upped their price objective on Coastal Financial from $67.00 to $76.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods upped their price target on shares of Coastal Financial from $92.00 to $96.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Finally, Raymond James lifted their price objective on shares of Coastal Financial from $61.00 to $73.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 29th.

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.