Coastal Financial Co. (NASDAQ:CCB) Holdings Raised by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP increased its holdings in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 480.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,646 shares of the company's stock after buying an additional 41,093 shares during the period. ExodusPoint Capital Management LP owned about 0.37% of Coastal Financial worth $4,215,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Coastal Financial by 11.4% during the fourth quarter. Vanguard Group Inc. now owns 685,385 shares of the company's stock worth $58,196,000 after buying an additional 70,272 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Coastal Financial by 1,067.9% in the fourth quarter. Wellington Management Group LLP now owns 456,887 shares of the company's stock worth $38,794,000 after acquiring an additional 417,767 shares during the last quarter. State Street Corp grew its holdings 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 during the period. American Century Companies Inc. grew its stake in shares of Coastal Financial by 1.0% during the 4th quarter. American Century Companies Inc. now owns 157,238 shares of the company's stock valued at $13,351,000 after buying an additional 1,511 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Coastal Financial by 3.7% in the 4th quarter. JPMorgan Chase & Co. now owns 121,469 shares of the company's stock worth $10,314,000 after buying an additional 4,388 shares during the period. 59.24% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research firms have issued reports on CCB. Raymond James reiterated a "strong-buy" rating on shares of Coastal Financial in a research note on Wednesday, April 2nd. 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. Finally, Stephens reissued an "overweight" rating and issued a $100.00 price target on shares of Coastal Financial in a report on Tuesday, March 18th.

Coastal Financial Stock Performance

Shares of NASDAQ:CCB traded down $0.60 on Friday, reaching $79.06. 79,497 shares of the company's stock were exchanged, compared to its average volume of 89,096. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial Co. has a fifty-two week low of $37.30 and a fifty-two week high of $102.25. The business's 50-day moving average is $87.44 and its two-hundred day moving average is $78.36. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 24.33 and a beta of 1.00.

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

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.