Intech Investment Management LLC Makes New $410,000 Investment in Coastal Financial Co. (NASDAQ:CCB)

Intech Investment Management LLC acquired a new stake in Coastal Financial Co. (NASDAQ:CCB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,824 shares of the company's stock, valued at approximately $410,000.

A number of other large investors have also made changes to their positions in CCB. Royce & Associates LP boosted its position in Coastal Financial by 795.5% during the fourth quarter. Royce & Associates LP now owns 89,554 shares of the company's stock worth $7,604,000 after acquiring an additional 79,554 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coastal Financial by 188.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company's stock worth $4,967,000 after purchasing an additional 60,106 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Coastal Financial in the third quarter valued at $2,034,000. JPMorgan Chase & Co. grew its position in shares of Coastal Financial by 40.9% in the third quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company's stock valued at $6,321,000 after purchasing an additional 33,964 shares during the period. Finally, Stieven Capital Advisors L.P. lifted its position in Coastal Financial by 37.9% during the fourth quarter. Stieven Capital Advisors L.P. now owns 102,213 shares of the company's stock worth $8,679,000 after buying an additional 28,100 shares during the period. Institutional investors and hedge funds own 59.24% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on CCB. Keefe, Bruyette & Woods lifted their price target on Coastal Financial from $96.00 to $114.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Stephens restated an "overweight" rating and issued a $100.00 target price on shares of Coastal Financial in a report on Tuesday, March 18th. Finally, Raymond James reaffirmed a "strong-buy" rating and set a $100.00 price target (up previously from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th.

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Coastal Financial Trading Down 1.8 %

Shares of NASDAQ CCB traded down $1.64 during midday trading on Friday, hitting $90.39. The stock had a trading volume of 150,188 shares, compared to its average volume of 86,200. 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 1-year low of $37.30 and a 1-year high of $102.25. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 27.81 and a beta of 1.21. The company has a fifty day moving average price of $88.10 and a 200 day moving average price of $75.82.

Coastal Financial (NASDAQ:CCB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share 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%. On average, analysts predict that Coastal Financial Co. will post 4.59 earnings per share for the current year.

About Coastal Financial

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.