Norden Group LLC Acquires Shares of 3,762 Coastal Financial Co. (NASDAQ:CCB)

Norden Group LLC acquired a new position in Coastal Financial Co. (NASDAQ:CCB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,762 shares of the company's stock, valued at approximately $319,000.

A number of other large investors have also modified their holdings of CCB. State Street Corp increased its stake in shares of Coastal Financial by 2.4% during the third quarter. State Street Corp now owns 314,274 shares of the company's stock worth $16,968,000 after purchasing an additional 7,386 shares in the last quarter. Jacobs Asset Management LLC grew its stake in Coastal Financial by 9.1% during the 3rd quarter. Jacobs Asset Management LLC now owns 187,500 shares of the company's stock valued at $10,123,000 after acquiring an additional 15,683 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Coastal Financial by 40.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company's stock valued at $6,321,000 after acquiring an additional 33,964 shares in the last quarter. Stieven Capital Advisors L.P. grew its stake in Coastal Financial by 37.9% during the 4th quarter. Stieven Capital Advisors L.P. now owns 102,213 shares of the company's stock valued at $8,679,000 after acquiring an additional 28,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Coastal Financial by 188.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company's stock valued at $4,967,000 after acquiring an additional 60,106 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company's stock.

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Analysts Set New Price Targets

Several brokerages recently issued reports on CCB. Stephens reaffirmed an "overweight" rating and set a $100.00 price objective on shares of Coastal Financial in a research note on Thursday, February 13th. Raymond James reiterated a "strong-buy" rating and issued a $100.00 target price (up from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Coastal Financial from $96.00 to $114.00 and gave the company an "outperform" rating in a report on Tuesday.

Coastal Financial Trading Down 4.7 %

Shares of CCB stock traded down $4.12 during trading hours on Friday, hitting $82.99. The company had a trading volume of 177,902 shares, compared to its average volume of 128,277. The company's fifty day moving average is $87.70 and its 200 day moving average is $71.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. Coastal Financial Co. has a fifty-two week low of $35.67 and a fifty-two week high of $102.25. The stock has a market capitalization of $1.12 billion, a PE ratio of 25.54 and a beta of 1.21.

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 the consensus estimate of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. Research analysts expect 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.