Nuveen Asset Management LLC Has $8.17 Million Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

Nuveen Asset Management LLC boosted its holdings in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 88.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,253 shares of the company's stock after acquiring an additional 45,100 shares during the quarter. Nuveen Asset Management LLC owned 0.71% of Coastal Financial worth $8,173,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in shares of Coastal Financial by 179.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock worth $61,000 after purchasing an additional 461 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Coastal Financial in the 4th quarter worth approximately $64,000. New York State Teachers Retirement System acquired a new position in shares of Coastal Financial in the 4th quarter worth approximately $87,000. KLP Kapitalforvaltning AS acquired a new position in shares of Coastal Financial in the 4th quarter worth approximately $178,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Coastal Financial in the 4th quarter worth approximately $214,000. 59.24% of the stock is owned by institutional investors.

Coastal Financial Stock Down 0.5%

Shares of Coastal Financial stock traded down $0.46 during trading on Monday, reaching $87.43. 78,908 shares of the company traded hands, compared to its average volume of 95,366. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. Coastal Financial Co. has a 1-year low of $42.64 and a 1-year high of $102.25. The company has a 50 day moving average price of $85.08 and a 200-day moving average price of $84.59. The firm has a market capitalization of $1.31 billion, a PE ratio of 26.90 and a beta of 0.94.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released its earnings results 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 analyst estimates 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.

Insider Activity at Coastal Financial

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $79.07, for a total transaction of $126,512.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Joel G. Edwards sold 3,128 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $88.44, for a total transaction of $276,640.32. Following the transaction, the chief financial officer now owns 41,387 shares in the company, valued at approximately $3,660,266.28. The trade was a 7.03% decrease in their position. The disclosure for this sale can be found here. 14.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

About Coastal Financial

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.