Coastal Financial Corporation $CCB is Elizabeth Park Capital Advisors Ltd.'s 4th Largest Position

Key Points

• Elizabeth Park Capital Advisors Ltd. increased its stake in Coastal Financial Corporation by 29.3%, now holding approximately 47,256 shares valued at $4.27 million, making it their 4th largest position.
• Coastal Financial reported earnings of $0.71 per share, missing expectations of $0.87, with quarterly revenue of $119.43 million compared to anticipated $158.05 million.
• Analysts have mixed ratings on the stock, with price targets ranging from $100 to $126, and an average rating of "Buy" reflecting a generally positive outlook.

Elizabeth Park Capital Advisors Ltd. grew its stake in shares of Coastal Financial Corporation (NASDAQ:CCB - Free Report) by 29.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,256 shares of the company's stock after purchasing an additional 10,701 shares during the period. Coastal Financial makes up 3.8% of Elizabeth Park Capital Advisors Ltd.'s investment portfolio, making the stock its 4th biggest holding. Elizabeth Park Capital Advisors Ltd. owned about 0.31% of Coastal Financial worth $4,272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. raised its holdings in shares of Coastal Financial by 1.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,339,269 shares of the company's stock valued at $121,084,000 after purchasing an additional 16,944 shares during the period. Vanguard Group Inc. increased its position in shares of Coastal Financial by 7.9% during the first quarter. Vanguard Group Inc. now owns 739,322 shares of the company's stock worth $66,842,000 after acquiring an additional 53,937 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Coastal Financial by 1,067.9% during the fourth quarter. Wellington Management Group LLP now owns 456,887 shares of the company's stock worth $38,794,000 after acquiring an additional 417,767 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Coastal Financial by 400.4% during the first quarter. Westwood Holdings Group Inc. now owns 449,113 shares of the company's stock worth $40,604,000 after acquiring an additional 359,371 shares in the last quarter. Finally, Azora Capital LP bought a new stake in shares of Coastal Financial during the fourth quarter worth about $33,794,000. Institutional investors and hedge funds own 59.24% of the company's stock.

Coastal Financial Stock Up 0.2%

NASDAQ:CCB traded up $0.20 on Friday, hitting $114.50. The stock had a trading volume of 81,622 shares, compared to its average volume of 146,037. The firm's fifty day simple moving average is $101.83 and its two-hundred day simple moving average is $91.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.06. Coastal Financial Corporation has a 1 year low of $47.90 and a 1 year high of $116.48. The stock has a market cap of $1.73 billion, a P/E ratio of 35.23 and a beta of 1.01.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.16). Coastal Financial had a return on equity of 11.31% and a net margin of 7.02%.The company had revenue of $119.43 million for the quarter, compared to analysts' expectations of $158.05 million. Analysts predict that Coastal Financial Corporation will post 4.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Coastal Financial from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Hovde Group set a $126.00 target price on shares of Coastal Financial in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, Coastal Financial presently has a consensus rating of "Buy" and an average target price of $110.25.

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.