ProShare Advisors LLC Purchases New Holdings in Coastal Financial Co. (NASDAQ:CCB)

ProShare Advisors LLC bought a new position in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,198 shares of the company's stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CCB. SG Americas Securities LLC raised its position in Coastal Financial by 8.7% during the fourth quarter. SG Americas Securities LLC now owns 6,517 shares of the company's stock valued at $553,000 after buying an additional 522 shares during the period. Empowered Funds LLC grew its stake in Coastal Financial by 4.6% in the fourth quarter. Empowered Funds LLC now owns 11,591 shares of the company's stock valued at $984,000 after purchasing an additional 507 shares in the last quarter. New York State Teachers Retirement System bought a new stake in shares of Coastal Financial during the 4th quarter worth about $87,000. Stieven Capital Advisors L.P. boosted its stake in shares of Coastal Financial by 37.9% during 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. boosted its stake in shares of Coastal Financial by 9.4% during 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. 59.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $79.07, for a total value of $126,512.00. Following the sale, the director now owns 14,006 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, CFO Joel G. Edwards sold 3,128 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $88.44, for a total value of $276,640.32. Following the completion of the sale, the chief financial officer now owns 41,387 shares in the company, valued at approximately $3,660,266.28. This trade represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 14.10% of the company's stock.

Coastal Financial Trading Up 0.4%

CCB traded up $0.34 during mid-day trading on Friday, reaching $87.82. The stock had a trading volume of 64,427 shares, compared to its average volume of 95,432. Coastal Financial Co. has a 52 week low of $42.64 and a 52 week high of $102.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $1.32 billion, a P/E ratio of 27.02 and a beta of 0.94. The firm's fifty day simple moving average is $85.06 and its two-hundred day simple moving average is $84.42.

Coastal Financial (NASDAQ:CCB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.30). The company had revenue of $139.54 million during the quarter, compared to the consensus estimate of $158.65 million. Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. On average, equities analysts predict that Coastal Financial Co. will post 4.59 EPS for the current 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.