Coastal Financial Corporation $CCB Stock Holdings Lifted by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC increased its holdings in Coastal Financial Corporation by 275.0% during Q1, now owning 67,839 shares valued at approximately $6,133,000.
• As of now, 59.24% of Coastal Financial's stock is held by institutional investors, with several firms significantly boosting their positions in the company during Q1.
• Coastal Financial recently reported $0.71 earnings per share for Q2, missing expectations of $0.87, and had a revenue of $119.43 million against anticipated $158.05 million.

Bridgeway Capital Management LLC lifted its holdings in Coastal Financial Corporation (NASDAQ:CCB - Free Report) by 275.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 67,839 shares of the company's stock after buying an additional 49,748 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.45% of Coastal Financial worth $6,133,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. T. Rowe Price Investment Management Inc. lifted its position in Coastal Financial by 1.3% in the 1st 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 last quarter. Vanguard Group Inc. lifted its position in Coastal Financial by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 739,322 shares of the company's stock valued at $66,842,000 after purchasing an additional 53,937 shares during the last quarter. Azora Capital LP raised its position in shares of Coastal Financial by 49.3% during the 1st quarter. Azora Capital LP now owns 594,142 shares of the company's stock worth $53,716,000 after buying an additional 196,148 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Coastal Financial by 1,067.9% during the 4th quarter. Wellington Management Group LLP now owns 456,887 shares of the company's stock worth $38,794,000 after buying an additional 417,767 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of Coastal Financial by 400.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 449,113 shares of the company's stock worth $40,604,000 after buying an additional 359,371 shares in the last quarter. 59.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CCB. Hovde Group set a $126.00 price target on shares of Coastal Financial in a research report on Monday, August 18th. Keefe, Bruyette & Woods boosted their price target 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. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, Coastal Financial currently has an average rating of "Buy" and a consensus target price of $110.25.

Coastal Financial Stock Performance

Coastal Financial stock opened at $115.88 on Friday. The firm's 50 day simple moving average is $103.48 and its 200-day simple moving average is $92.40. The company has a market cap of $1.75 billion, a P/E ratio of 35.66 and a beta of 1.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.05. Coastal Financial Corporation has a fifty-two week low of $47.90 and a fifty-two week high of $116.48.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.16). The firm had revenue of $119.43 million during the quarter, compared to analysts' expectations of $158.05 million. Coastal Financial had a return on equity of 11.31% and a net margin of 7.02%. As a group, equities research analysts predict that Coastal Financial Corporation 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.

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