Los Angeles Capital Management LLC Buys 25,482 Shares of Coastal Financial Co. (NASDAQ:CCB)

Los Angeles Capital Management LLC raised its position in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 79.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,357 shares of the company's stock after purchasing an additional 25,482 shares during the period. Los Angeles Capital Management LLC owned approximately 0.43% of Coastal Financial worth $3,097,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC grew its stake in shares of Coastal Financial by 300.0% during the third quarter. nVerses Capital LLC now owns 800 shares of the company's stock valued at $43,000 after buying an additional 600 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of Coastal Financial by 642.4% during the first quarter. EntryPoint Capital LLC now owns 1,663 shares of the company's stock valued at $65,000 after buying an additional 1,439 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Coastal Financial by 22,360.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company's stock valued at $207,000 after buying an additional 4,472 shares during the last quarter. Portside Wealth Group LLC grew its stake in shares of Coastal Financial by 3.7% during the third quarter. Portside Wealth Group LLC now owns 4,669 shares of the company's stock valued at $252,000 after buying an additional 166 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Coastal Financial during the first quarter valued at about $207,000. Hedge funds and other institutional investors own 59.24% of the company's stock.

Coastal Financial Trading Up 1.6 %

NASDAQ:CCB traded up $1.15 during mid-day trading on Wednesday, reaching $73.66. 71,807 shares of the company's stock traded hands, compared to its average volume of 60,565. Coastal Financial Co. has a 12-month low of $35.67 and a 12-month high of $74.57. The firm has a market capitalization of $997.36 million, a price-to-earnings ratio of 24.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day moving average price of $57.43 and a 200-day moving average price of $50.47.

Coastal Financial (NASDAQ:CCB - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. Coastal Financial had a return on equity of 13.86% and a net margin of 5.98%. The company had revenue of $185.15 million for the quarter, compared to the consensus estimate of $154.30 million. On average, sell-side analysts predict that Coastal Financial Co. will post 3.55 earnings per share for the current year.

Insiders Place Their Bets

In other Coastal Financial news, EVP Jonathan E. Sand sold 1,000 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now owns 19,611 shares in the company, valued at approximately $1,454,155.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Eric M. Sprink sold 7,302 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.13, for a total value of $366,049.26. Following the sale, the chief executive officer now directly owns 316,912 shares of the company's stock, valued at $15,886,798.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jonathan E. Sand sold 1,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $74.15, for a total value of $74,150.00. Following the completion of the sale, the executive vice president now directly owns 19,611 shares in the company, valued at approximately $1,454,155.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,977 shares of company stock worth $4,428,296. Company insiders own 16.82% of the company's stock.

Analyst Upgrades and Downgrades

CCB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on Coastal Financial from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Hovde Group raised their target price on Coastal Financial from $67.00 to $76.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Finally, Raymond James boosted their price target on Coastal Financial from $61.00 to $73.00 and gave the company a "strong-buy" rating in a report on Tuesday, October 29th.

Coastal Financial 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.