Coastal Financial Co. (NASDAQ:CCB) Shares Sold by Barclays PLC

Barclays PLC reduced its stake in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,562 shares of the company's stock after selling 4,242 shares during the quarter. Barclays PLC owned about 0.20% of Coastal Financial worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CCB. Meeder Asset Management Inc. purchased a new stake in shares of Coastal Financial during the 4th quarter valued at about $64,000. New York State Teachers Retirement System bought a new stake in shares of Coastal Financial in the 4th quarter valued at approximately $87,000. USA Financial Formulas bought a new position in shares of Coastal Financial during the 4th quarter valued at approximately $122,000. KLP Kapitalforvaltning AS purchased a new stake in Coastal Financial during the 4th quarter valued at $178,000. Finally, Pictet Asset Management Holding SA bought a new stake in Coastal Financial in the fourth quarter worth $214,000. Institutional investors own 59.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Hovde Group dropped their price target on shares of Coastal Financial from $120.00 to $110.00 and set an "outperform" rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods lowered their target price on shares of Coastal Financial from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Wednesday. Stephens reaffirmed an "overweight" rating and issued a $100.00 price target on shares of Coastal Financial in a research note on Tuesday, March 18th. Finally, Raymond James decreased their price target on shares of Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating for the company in a research note on Wednesday.

Insider Buying and Selling

In other news, Director Gregory A. Tisdel sold 1,600 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $79.07, for a total value of $126,512.00. Following the sale, the director now owns 14,006 shares in the company, valued at $1,107,454.42. This represents a 10.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.82% of the stock is currently owned by company insiders.

Coastal Financial Stock Up 1.3 %

CCB traded up $1.04 during trading on Friday, hitting $81.34. The stock had a trading volume of 95,644 shares, compared to its average volume of 92,052. The stock has a 50 day simple moving average of $85.78 and a two-hundred day simple moving average of $81.31. The company has a market capitalization of $1.22 billion, a PE ratio of 25.03 and a beta of 1.00. 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 $40.43 and a twelve month high of $102.25.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.30). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. The business had revenue of $139.54 million during the quarter, compared to analyst estimates of $158.65 million. On average, research analysts predict that Coastal Financial Co. will post 4.59 earnings per share for the current year.

About Coastal Financial

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.