Sei Investments Co. Acquires Shares of 7,552 Coastal Financial Co. (NASDAQ:CCB)

Sei Investments Co. acquired a new position in Coastal Financial Co. (NASDAQ:CCB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,552 shares of the company's stock, valued at approximately $641,000. Sei Investments Co. owned about 0.06% of Coastal Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CCB. Royce & Associates LP raised its position in Coastal Financial by 795.5% in the 4th quarter. Royce & Associates LP now owns 89,554 shares of the company's stock worth $7,604,000 after purchasing an additional 79,554 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Coastal Financial by 188.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company's stock worth $4,967,000 after buying an additional 60,106 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Coastal Financial by 40.9% in the third quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company's stock worth $6,321,000 after buying an additional 33,964 shares during the period. Stieven Capital Advisors L.P. lifted its stake in shares of Coastal Financial by 37.9% in 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 during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Coastal Financial by 474.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 25,049 shares of the company's stock valued at $1,352,000 after acquiring an additional 20,685 shares during the period. 59.24% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of equities analysts have commented on CCB shares. Raymond James reaffirmed a "strong-buy" rating on shares of Coastal Financial in a research note on Wednesday, April 2nd. Stephens reiterated an "overweight" rating and set a $100.00 price target on shares of Coastal Financial in a report on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Coastal Financial from $96.00 to $114.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th.

Coastal Financial Stock Down 0.8 %

CCB traded down $0.60 on Friday, hitting $79.06. The company had a trading volume of 79,497 shares, compared to its average volume of 89,227. The stock has a fifty day simple moving average of $87.44 and a 200-day simple moving average of $78.54. 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 firm has a market capitalization of $1.19 billion, a P/E ratio of 24.33 and a beta of 1.00. Coastal Financial Co. has a 52-week low of $37.30 and a 52-week high of $102.25.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share 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%. As a group, equities analysts expect that Coastal Financial Co. will post 4.59 EPS 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.