Pacific Ridge Capital Partners LLC Buys 7,356 Shares of Coastal Financial Co. (NASDAQ:CCB)

Pacific Ridge Capital Partners LLC increased its stake in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 54.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,911 shares of the company's stock after purchasing an additional 7,356 shares during the quarter. Pacific Ridge Capital Partners LLC owned approximately 0.15% of Coastal Financial worth $1,776,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Point72 DIFC Ltd bought a new position in Coastal Financial in the third quarter worth $31,000. FMR LLC raised its holdings in Coastal Financial by 21.0% in the third quarter. FMR LLC now owns 1,316 shares of the company's stock worth $71,000 after purchasing an additional 228 shares during the period. New York State Teachers Retirement System bought a new stake in Coastal Financial in the 4th quarter valued at $87,000. Quantbot Technologies LP acquired a new position in Coastal Financial during the third quarter worth $119,000. Finally, USA Financial Formulas bought a new stake in shares of Coastal Financial during the 4th quarter worth approximately $122,000. 59.24% of the stock is currently owned by institutional investors.

Coastal Financial Price Performance

Coastal Financial stock traded down $0.41 during trading hours on Monday, reaching $89.98. 28,560 shares of the stock were exchanged, compared to its average volume of 129,647. The stock has a 50 day moving average of $88.10 and a two-hundred day moving average of $76.01. The company has a market cap of $1.35 billion, a P/E ratio of 27.69 and a beta of 1.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial Co. has a twelve month low of $37.30 and a twelve month high of $102.25.

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Coastal Financial (NASDAQ:CCB - Get Free Report) last announced 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 net margin of 6.43% and a return on equity of 14.98%. Equities analysts expect that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CCB shares. Stephens restated an "overweight" rating and set a $100.00 target price on shares of Coastal Financial in a report on Tuesday, March 18th. Raymond James reaffirmed 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 price target on Coastal Financial from $96.00 to $114.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th.

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.