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.
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.
Check Out Our Latest Analysis on CCB
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
(
Free Report)
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.
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