6,267 Shares in Coastal Financial Co. (NASDAQ:CCB) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,267 shares of the company's stock, valued at approximately $532,000.

Other hedge funds have also recently modified their holdings of the company. Arizona State Retirement System acquired a new stake in Coastal Financial during the fourth quarter worth $282,000. Proficio Capital Partners LLC acquired a new stake in shares of Coastal Financial during the 4th quarter worth about $1,139,000. Charles Schwab Investment Management Inc. raised its holdings in Coastal Financial by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 92,959 shares of the company's stock valued at $7,893,000 after buying an additional 952 shares during the period. Norden Group LLC acquired a new position in Coastal Financial in the fourth quarter valued at about $319,000. Finally, Truist Financial Corp lifted its position in Coastal Financial by 5.5% in the fourth quarter. Truist Financial Corp now owns 20,276 shares of the company's stock valued at $1,722,000 after buying an additional 1,055 shares during the last quarter. Hedge funds and other institutional investors own 59.24% of the company's stock.

Wall Street Analyst Weigh In

CCB has been the topic of a number of research analyst reports. Stephens reissued an "overweight" rating and issued a $100.00 price target on shares of Coastal Financial in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods boosted their price target on shares of Coastal Financial from $96.00 to $114.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Finally, Raymond James restated a "strong-buy" rating on shares of Coastal Financial in a research note on Wednesday, April 2nd.

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Coastal Financial Stock Down 0.8 %

Shares of Coastal Financial stock traded down $0.60 during trading hours on Friday, hitting $79.06. The company had a trading volume of 79,497 shares, compared to its average volume of 89,096. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The company's 50-day moving average is $87.44 and its two-hundred day moving average is $78.36. The company has a market cap of $1.19 billion, a P/E ratio of 24.33 and a beta of 1.00. Coastal Financial Co. has a twelve month low of $37.30 and a twelve month high of $102.25.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 earnings per share (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%. Analysts anticipate 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.