Coastal Financial Co. (NASDAQ:CCB) Stake Cut by Jacobs Asset Management LLC

Jacobs Asset Management LLC lowered its stake in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 41.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 110,096 shares of the company's stock after selling 77,404 shares during the quarter. Coastal Financial accounts for 5.6% of Jacobs Asset Management LLC's holdings, making the stock its 5th biggest holding. Jacobs Asset Management LLC owned approximately 0.81% of Coastal Financial worth $9,348,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its stake in Coastal Financial by 179.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock worth $61,000 after purchasing an additional 461 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Coastal Financial in the fourth quarter worth approximately $64,000. New York State Teachers Retirement System bought a new stake in shares of Coastal Financial during the 4th quarter worth approximately $87,000. USA Financial Formulas purchased a new position in Coastal Financial during the 4th quarter valued at $122,000. Finally, KLP Kapitalforvaltning AS bought a new position in Coastal Financial in the 4th quarter valued at $178,000. Institutional investors own 59.24% of the company's stock.

Insider Buying and Selling

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $79.07, for a total value of $126,512.00. Following the completion of the transaction, the director now directly owns 14,006 shares in the company, valued at approximately $1,107,454.42. The trade was a 10.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Raymond James decreased their target price on Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 30th. Hovde Group decreased their price objective on shares of Coastal Financial from $120.00 to $110.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Keefe, Bruyette & Woods lowered their price objective on shares of Coastal Financial from $114.00 to $110.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Stephens reaffirmed an "overweight" rating and set a $100.00 target price on shares of Coastal Financial in a research report on Tuesday, March 18th.

Coastal Financial Stock Up 0.8%

Shares of NASDAQ:CCB traded up $0.70 during trading hours on Friday, hitting $89.00. The company's stock had a trading volume of 77,523 shares, compared to its average volume of 94,054. The firm's fifty day moving average price is $84.42 and its 200 day moving average price is $82.80. Coastal Financial Co. has a 52 week low of $42.64 and a 52 week high of $102.25. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 27.38 and a beta of 0.94. 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 (NASDAQ:CCB - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.30). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. The company had revenue of $139.54 million for the quarter, compared to the consensus estimate of $158.65 million. As a group, research analysts expect that Coastal Financial Co. will post 4.59 EPS for the current 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.