Deutsche Bank AG Boosts Holdings in Coastal Financial Co. (NASDAQ:CCB)

Deutsche Bank AG grew its holdings in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 52.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,806 shares of the company's stock after purchasing an additional 3,705 shares during the quarter. Deutsche Bank AG owned approximately 0.08% of Coastal Financial worth $918,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCB. SG Americas Securities LLC increased its position in shares of Coastal Financial by 8.7% during the 4th quarter. SG Americas Securities LLC now owns 6,517 shares of the company's stock valued at $553,000 after purchasing an additional 522 shares during the last quarter. Empowered Funds LLC increased its position in shares of Coastal Financial by 4.6% during the 4th quarter. Empowered Funds LLC now owns 11,591 shares of the company's stock valued at $984,000 after purchasing an additional 507 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Coastal Financial during the 4th quarter valued at about $87,000. Stieven Capital Advisors L.P. increased its holdings in Coastal Financial by 37.9% in the 4th quarter. Stieven Capital Advisors L.P. now owns 102,213 shares of the company's stock worth $8,679,000 after acquiring an additional 28,100 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Coastal Financial by 9.4% in the 4th quarter. Principal Financial Group Inc. now owns 7,630 shares of the company's stock worth $648,000 after acquiring an additional 653 shares in the last quarter. Hedge funds and other institutional investors own 59.24% of the company's stock.

Insider Buying and Selling at Coastal Financial

In related news, Director Gregory A. Tisdel sold 1,600 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 14,006 shares of the company's stock, valued at approximately $1,107,454.42. This trade represents a 10.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joel G. Edwards sold 3,128 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $88.44, for a total transaction of $276,640.32. Following the completion of the transaction, the chief financial officer now directly owns 41,387 shares of the company's stock, valued at approximately $3,660,266.28. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.10% of the company's stock.

Coastal Financial Price Performance

CCB traded up $0.34 during trading on Friday, reaching $87.82. 26,775 shares of the company traded hands, compared to its average volume of 94,838. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. Coastal Financial Co. has a 12-month low of $42.64 and a 12-month high of $102.25. The firm has a fifty day simple moving average of $85.07 and a 200 day simple moving average of $84.24. The company has a market cap of $1.32 billion, a P/E ratio of 27.02 and a beta of 0.94.

Coastal Financial (NASDAQ:CCB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $158.65 million. On average, equities analysts forecast that Coastal Financial Co. will post 4.59 EPS for the current year.

Wall Street Analyst Weigh In

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

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.