Wellington Management Group LLP Has $38.79 Million Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

Wellington Management Group LLP boosted its stake in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 1,067.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 456,887 shares of the company's stock after buying an additional 417,767 shares during the period. Wellington Management Group LLP owned about 3.37% of Coastal Financial worth $38,794,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royce & Associates LP boosted its position in shares of Coastal Financial by 795.5% in the fourth quarter. Royce & Associates LP now owns 89,554 shares of the company's stock worth $7,604,000 after buying an additional 79,554 shares during the period. Vanguard Group Inc. boosted its position in 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 acquiring an additional 70,272 shares during the period. Charles Schwab Investment Management Inc. boosted 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 worth $4,967,000 after acquiring an additional 60,106 shares during the period. JPMorgan Chase & Co. grew its stake 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 acquiring an additional 33,964 shares in the last quarter. Finally, Stieven Capital Advisors L.P. increased its holdings 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 purchasing an additional 28,100 shares during the period. Institutional investors and hedge funds own 59.24% of the company's stock.

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Coastal Financial Stock Down 0.8 %

NASDAQ:CCB traded down $0.60 during mid-day trading on Friday, reaching $79.06. The stock had a trading volume of 79,497 shares, compared to its average volume of 89,096. 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 stock has a market cap of $1.19 billion, a P/E ratio of 24.33 and a beta of 1.00. The business's 50 day moving average is $87.44 and its 200 day moving average is $78.36. Coastal Financial Co. has a fifty-two week low of $37.30 and a fifty-two 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 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, sell-side analysts predict that Coastal Financial Co. will post 4.59 earnings per share for the current year.

Analyst Ratings Changes

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

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.