T. Rowe Price Investment Management Inc. Increases Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

T. Rowe Price Investment Management Inc. increased its holdings in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 47.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,322,325 shares of the company's stock after purchasing an additional 423,864 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 9.77% of Coastal Financial worth $112,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CCB. Vanguard Group Inc. boosted its stake in shares of Coastal Financial by 11.4% during the 4th quarter. Vanguard Group Inc. now owns 685,385 shares of the company's stock worth $58,196,000 after buying an additional 70,272 shares during the last quarter. Wellington Management Group LLP grew its stake in Coastal Financial by 1,067.9% in the fourth quarter. Wellington Management Group LLP now owns 456,887 shares of the company's stock valued at $38,794,000 after purchasing an additional 417,767 shares in the last quarter. Kennedy Capital Management LLC raised its stake in shares of Coastal Financial by 38.6% during the 4th quarter. Kennedy Capital Management LLC now owns 299,456 shares of the company's stock worth $25,427,000 after purchasing an additional 83,331 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Coastal Financial by 1.0% in the 4th quarter. American Century Companies Inc. now owns 157,238 shares of the company's stock valued at $13,351,000 after buying an additional 1,511 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Coastal Financial by 3.7% during the fourth quarter. JPMorgan Chase & Co. now owns 121,469 shares of the company's stock worth $10,314,000 after buying an additional 4,388 shares during the last quarter. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at Coastal Financial

In other news, Director Gregory A. Tisdel sold 1,600 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $79.07, for a total value of $126,512.00. Following the completion of the sale, the director now owns 14,006 shares of the company's stock, valued at approximately $1,107,454.42. This represents a 10.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 16.82% of the company's stock.

Coastal Financial Price Performance

Coastal Financial stock traded down $0.12 during mid-day trading on Monday, reaching $87.96. 113,252 shares of the company were exchanged, compared to its average volume of 91,000. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. Coastal Financial Co. has a 12 month low of $37.51 and a 12 month high of $102.25. The firm has a market cap of $1.32 billion, a PE ratio of 27.06 and a beta of 1.00. The company has a fifty day simple moving average of $86.50 and a 200-day simple moving average of $80.73.

Coastal Financial (NASDAQ:CCB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 earnings per share (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, equities research analysts expect that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal 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.