Vanguard Group Inc. Has $58.20 Million Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

Vanguard Group Inc. raised its holdings in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 685,385 shares of the company's stock after acquiring an additional 70,272 shares during the quarter. Vanguard Group Inc. owned about 5.06% of Coastal Financial worth $58,196,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Coastal Financial by 2.4% in the 3rd quarter. State Street Corp now owns 314,274 shares of the company's stock valued at $16,968,000 after purchasing an additional 7,386 shares during the period. American Century Companies Inc. increased its position in 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 acquiring an additional 1,511 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Coastal Financial by 40.9% during the 3rd 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 in the last quarter. Stieven Capital Advisors L.P. boosted its position in 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 buying an additional 28,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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. 59.24% of the stock is owned by institutional investors.

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Coastal Financial Stock Up 1.1 %

Shares of NASDAQ:CCB traded up $0.87 during trading on Tuesday, hitting $80.42. 107,676 shares of the company's stock traded hands, compared to its average volume of 89,227. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $87.25 and a 200-day moving average price of $78.72. Coastal Financial Co. has a 52 week low of $37.30 and a 52 week high of $102.25. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 24.74 and a beta of 1.00.

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, research analysts forecast that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.