Corton Capital Inc. Has $364,000 Stake in Coastal Financial Co. (NASDAQ:CCB)

Corton Capital Inc. cut its stake in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 59.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,289 shares of the company's stock after selling 6,198 shares during the quarter. Corton Capital Inc.'s holdings in Coastal Financial were worth $364,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Barclays PLC increased its position in Coastal Financial by 60.0% in the 3rd quarter. Barclays PLC now owns 31,804 shares of the company's stock valued at $1,719,000 after acquiring an additional 11,922 shares during the period. Legal & General Group Plc grew its stake in shares of Coastal Financial by 9.2% in the fourth quarter. Legal & General Group Plc now owns 11,643 shares of the company's stock worth $989,000 after purchasing an additional 984 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Coastal Financial during the third quarter valued at $377,000. JPMorgan Chase & Co. raised its stake in shares of Coastal Financial by 40.9% during the third quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company's stock valued at $6,321,000 after purchasing an additional 33,964 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Coastal Financial by 16.6% in the fourth quarter. Swiss National Bank now owns 25,965 shares of the company's stock worth $2,205,000 after purchasing an additional 3,700 shares during the period. 59.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCB has been the topic of several research analyst reports. Hovde Group lowered their target price on shares of Coastal Financial from $120.00 to $110.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods dropped their target price on Coastal Financial from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Raymond James cut 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. Finally, Stephens reissued an "overweight" rating and issued a $100.00 price objective on shares of Coastal Financial in a research note on Tuesday, March 18th.

Insider Activity

In related news, Director Gregory A. Tisdel sold 1,600 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now owns 14,006 shares in the company, valued at approximately $1,107,454.42. This represents a 10.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.82% of the stock is currently owned by company insiders.

Coastal Financial Price Performance

CCB stock traded up $0.36 on Friday, hitting $84.31. 73,513 shares of the company's stock traded hands, compared to its average volume of 93,484. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 25.94 and a beta of 0.94. Coastal Financial Co. has a 1-year low of $42.56 and a 1-year high of $102.25. 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 stock has a fifty day moving average of $84.29 and a 200-day moving average of $82.06.

Coastal Financial (NASDAQ:CCB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.30). The company had revenue of $139.54 million for the quarter, compared to analyst estimates of $158.65 million. Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. On average, analysts forecast that Coastal Financial Co. will post 4.59 EPS 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.