Coastal Financial Co. (NASDAQ:CCB) Shares Acquired by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. raised its holdings in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 37.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 102,213 shares of the company's stock after purchasing an additional 28,100 shares during the period. Stieven Capital Advisors L.P. owned 0.75% of Coastal Financial worth $8,679,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CCB. Charles Schwab Investment Management Inc. increased its position 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 purchasing an additional 60,106 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new position in Coastal Financial during the 3rd quarter valued at about $2,034,000. JPMorgan Chase & Co. increased its position 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 purchasing an additional 33,964 shares during the period. Riverwater Partners LLC increased its position in Coastal Financial by 367.9% during the 3rd quarter. Riverwater Partners LLC now owns 38,670 shares of the company's stock valued at $2,012,000 after purchasing an additional 30,405 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of Coastal Financial by 79.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 57,357 shares of the company's stock worth $3,097,000 after buying an additional 25,482 shares during the last quarter. Hedge funds and other institutional investors own 59.24% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CCB. Stephens reaffirmed an "overweight" rating and issued a $100.00 price objective on shares of Coastal Financial in a research report on Thursday, February 13th. Raymond James reaffirmed a "strong-buy" rating and issued a $100.00 price objective (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Coastal Financial from $92.00 to $96.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Finally, Hovde Group lifted their price objective on shares of Coastal Financial from $67.00 to $76.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th.

Coastal Financial Stock Performance

CCB stock traded up $0.42 during trading on Wednesday, reaching $92.30. The company had a trading volume of 50,840 shares, compared to its average volume of 112,086. The firm has a 50-day simple moving average of $85.12 and a 200-day simple moving average of $68.43. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 28.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. Coastal Financial Co. has a twelve month low of $35.67 and a twelve month high of $92.37.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released its earnings results 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 return on equity of 14.98% and a net margin of 6.43%. As a group, sell-side analysts expect that Coastal Financial Co. will post 4.59 earnings per share for the current year.

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.