Los Angeles Capital Management LLC Decreases Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

Los Angeles Capital Management LLC trimmed its position in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 49.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,837 shares of the company's stock after selling 28,520 shares during the quarter. Los Angeles Capital Management LLC owned about 0.21% of Coastal Financial worth $2,449,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new stake in shares of Coastal Financial in the 3rd quarter worth about $377,000. Barclays PLC grew its position in Coastal Financial by 60.0% in the third quarter. Barclays PLC now owns 31,804 shares of the company's stock worth $1,719,000 after acquiring an additional 11,922 shares in the last quarter. PDT Partners LLC bought a new stake in Coastal Financial during the third quarter worth approximately $650,000. Charles Schwab Investment Management Inc. raised its position in Coastal Financial by 188.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company's stock valued at $4,967,000 after purchasing an additional 60,106 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. lifted its stake in shares of Coastal Financial by 214.0% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 30,116 shares of the company's stock valued at $1,626,000 after purchasing an additional 20,525 shares during the last quarter. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCB has been the topic of several recent research reports. Raymond James restated a "strong-buy" rating and set a $100.00 price target (up previously from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Stephens restated an "overweight" rating and issued a $100.00 target price on shares of Coastal Financial in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Coastal Financial from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Thursday, December 12th.

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Coastal Financial Trading Up 2.0 %

CCB stock traded up $1.98 during trading on Monday, hitting $100.71. The company had a trading volume of 235,531 shares, compared to its average volume of 124,039. The firm has a market capitalization of $1.36 billion, a P/E ratio of 30.99 and a beta of 1.23. 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 52-week low of $35.67 and a 52-week high of $102.25. The company has a 50 day simple moving average of $86.93 and a 200-day simple moving average of $70.98.

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 (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, research analysts forecast that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal 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.