Coastal Financial Co. (NASDAQ:CCB) Shares Bought by Swiss National Bank

Swiss National Bank grew its stake in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,965 shares of the company's stock after acquiring an additional 3,700 shares during the quarter. Swiss National Bank owned about 0.19% of Coastal Financial worth $2,205,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in Coastal Financial in the third quarter worth $31,000. FMR LLC grew its stake in Coastal Financial by 21.0% during the 3rd quarter. FMR LLC now owns 1,316 shares of the company's stock worth $71,000 after buying an additional 228 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Coastal Financial during the 4th quarter valued at about $87,000. Quantbot Technologies LP purchased a new stake in Coastal Financial in the third quarter valued at about $119,000. Finally, USA Financial Formulas acquired a new stake in Coastal Financial in the fourth quarter worth about $122,000. 59.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CCB has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Coastal Financial from $96.00 to $114.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Raymond James restated a "strong-buy" rating and set a $100.00 price target (up previously from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th. Finally, Stephens reiterated an "overweight" rating and set a $100.00 price objective on shares of Coastal Financial in a research note on Tuesday, March 18th.

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Coastal Financial Stock Performance

NASDAQ CCB traded up $0.02 during trading hours on Monday, reaching $90.41. The stock had a trading volume of 156,931 shares, compared to its average volume of 86,483. Coastal Financial Co. has a 52-week low of $37.30 and a 52-week high of $102.25. The stock has a fifty day moving average of $88.22 and a 200 day moving average of $76.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $1.36 billion, a P/E ratio of 27.82 and a beta of 1.21.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released 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%. Sell-side analysts predict that Coastal Financial Co. will post 4.59 earnings per share 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.