Federated Hermes Inc. Has $962,000 Holdings in Coastal Financial Co. (NASDAQ:CCB)

Federated Hermes Inc. raised its stake in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 7,072.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,333 shares of the company's stock after acquiring an additional 11,175 shares during the quarter. Federated Hermes Inc. owned approximately 0.08% of Coastal Financial worth $962,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in Coastal Financial in the 4th quarter valued at $64,000. FMR LLC increased its stake in shares of Coastal Financial by 21.0% in the third quarter. FMR LLC now owns 1,316 shares of the company's stock valued at $71,000 after buying an additional 228 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Coastal Financial in the fourth quarter valued at about $87,000. USA Financial Formulas acquired a new position in Coastal Financial during the 4th quarter worth about $122,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Coastal Financial during the 4th quarter worth about $178,000. Institutional investors and hedge funds own 59.24% of the company's stock.

Insider Buying and Selling

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of Coastal Financial stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $79.07, for a total transaction of $126,512.00. Following the transaction, the director now directly owns 14,006 shares in the company, valued at approximately $1,107,454.42. The trade was a 10.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.82% of the stock is owned by insiders.

Coastal Financial Trading Up 0.8 %

CCB traded up $0.64 during trading on Monday, reaching $83.89. 106,427 shares of the company's stock were exchanged, compared to its average volume of 90,255. The company's fifty day moving average price is $86.69 and its 200-day moving average price is $79.77. The firm has a market capitalization of $1.26 billion, a PE ratio of 25.81 and a beta of 1.00. Coastal Financial Co. has a fifty-two week low of $37.51 and a fifty-two week high of $102.25. 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 (NASDAQ:CCB - Get Free Report) last released 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 net margin of 6.43% and a return on equity of 14.98%. As a group, equities analysts forecast that Coastal Financial Co. will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

CCB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Coastal Financial from $96.00 to $114.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. Raymond James reaffirmed a "strong-buy" rating on shares of Coastal Financial in a report on Wednesday, April 2nd. Finally, Stephens restated an "overweight" rating and set a $100.00 target price on shares of Coastal Financial in a research report on Tuesday, March 18th.

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.