Elizabeth Park Capital Advisors Ltd. Acquires Shares of 36,555 Coastal Financial Co. (NASDAQ:CCB)

Elizabeth Park Capital Advisors Ltd. purchased a new stake in Coastal Financial Co. (NASDAQ:CCB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 36,555 shares of the company's stock, valued at approximately $3,104,000. Coastal Financial accounts for 2.5% of Elizabeth Park Capital Advisors Ltd.'s investment portfolio, making the stock its 16th largest position. Elizabeth Park Capital Advisors Ltd. owned 0.27% of Coastal Financial at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in shares of Coastal Financial in the 3rd quarter valued at about $31,000. Meeder Asset Management Inc. purchased a new position in Coastal Financial during the fourth quarter valued at approximately $64,000. New York State Teachers Retirement System bought a new position in Coastal Financial in the fourth quarter worth approximately $87,000. FMR LLC lifted its holdings in 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 buying an additional 228 shares during the period. Finally, USA Financial Formulas bought a new stake in Coastal Financial during the 4th quarter valued at $122,000. Hedge funds and other institutional investors own 59.24% of the company's stock.

Coastal Financial Stock Down 2.6 %

Shares of Coastal Financial stock traded down $2.04 during trading on Friday, reaching $77.62. The company's stock had a trading volume of 33,409 shares, compared to its average volume of 88,886. The company has a 50-day simple moving average of $87.59 and a two-hundred day simple moving average of $78.17. Coastal Financial Co. has a 1-year low of $37.30 and a 1-year high of $102.25. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 23.88 and a beta of 1.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14.

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Coastal Financial (NASDAQ:CCB - Get Free Report) last issued 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 return on equity of 14.98% and a net margin of 6.43%. As a group, equities analysts forecast that Coastal Financial Co. will post 4.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages 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 note on Tuesday, March 18th. Raymond James reiterated a "strong-buy" rating on shares of Coastal Financial in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Coastal Financial from $96.00 to $114.00 and gave the company an "outperform" rating in a report 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.