Proficio Capital Partners LLC Buys Shares of 13,416 Coastal Financial Co. (NASDAQ:CCB)

Proficio Capital Partners LLC bought a new position in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 13,416 shares of the company's stock, valued at approximately $1,139,000. Proficio Capital Partners LLC owned 0.10% of Coastal Financial as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $4,967,000 after purchasing an additional 60,106 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Coastal Financial during the 3rd quarter worth about $2,034,000. JPMorgan Chase & Co. grew its holdings in shares of Coastal Financial by 40.9% in 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. increased its position in shares of Coastal Financial by 37.9% in the fourth 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 during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Coastal Financial by 474.0% during the third quarter. BNP Paribas Financial Markets now owns 25,049 shares of the company's stock worth $1,352,000 after acquiring an additional 20,685 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. 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. Raymond James reissued a "strong-buy" rating and issued a $100.00 target price (up from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th. Finally, Stephens reaffirmed an "overweight" rating and set a $100.00 price target on shares of Coastal Financial in a research report on Tuesday, March 18th.

Coastal Financial Stock Performance

Shares of CCB stock traded up $5.96 during trading on Monday, reaching $90.44. 113,625 shares of the company's stock were exchanged, compared to its average volume of 131,371. The firm's fifty day moving average price is $87.57 and its 200-day moving average price is $74.62. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.22 billion, a PE ratio of 27.83 and a beta of 1.21. Coastal Financial Co. has a twelve month low of $36.60 and a twelve month high of $102.25.

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 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, sell-side analysts anticipate that Coastal Financial Co. will post 4.59 EPS for the current 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.