Dimensional Fund Advisors LP Sells 7,737 Shares of Coastal Financial Co. (NASDAQ:CCB)

Dimensional Fund Advisors LP reduced its stake in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,309 shares of the company's stock after selling 7,737 shares during the quarter. Dimensional Fund Advisors LP owned about 2.68% of Coastal Financial worth $30,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CCB. Barclays PLC lifted its position in Coastal Financial by 60.0% in the 3rd quarter. Barclays PLC now owns 31,804 shares of the company's stock worth $1,719,000 after buying an additional 11,922 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Coastal Financial by 9.2% in the 4th quarter. Legal & General Group Plc now owns 11,643 shares of the company's stock valued at $989,000 after purchasing an additional 984 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Coastal Financial during the 3rd quarter valued at $377,000. JPMorgan Chase & Co. raised its position in Coastal Financial by 40.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company's stock worth $6,321,000 after purchasing an additional 33,964 shares during the period. Finally, Swiss National Bank lifted its stake 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 last quarter. 59.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Coastal Financial

In related 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 transaction of $126,512.00. Following the sale, the director now owns 14,006 shares of the company's stock, valued at $1,107,454.42. The trade was a 10.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 16.82% of the stock is currently owned by company insiders.

Coastal Financial Trading Up 0.4%

Shares of Coastal Financial stock traded up $0.36 during trading on Friday, reaching $84.31. 73,513 shares of the stock were exchanged, compared to its average volume of 93,642. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm 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 $42.64 and a 1 year high of $102.25. The stock's fifty day moving average is $84.29 and its 200 day moving average is $82.37.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $158.65 million. As a group, equities research analysts expect that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal year.

Coastal Financial Company 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.