Tidal Investments LLC purchased a new position in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,032 shares of the company's stock, valued at approximately $342,000.
Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of Coastal Financial by 9.2% during the 4th quarter. Legal & General Group Plc now owns 11,643 shares of the company's stock worth $989,000 after acquiring an additional 984 shares in the last quarter. Swiss National Bank grew its stake in shares of Coastal Financial by 16.6% in the fourth quarter. Swiss National Bank now owns 25,965 shares of the company's stock valued at $2,205,000 after buying an additional 3,700 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Coastal Financial by 52.2% in the fourth quarter. Deutsche Bank AG now owns 10,806 shares of the company's stock valued at $918,000 after buying an additional 3,705 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Coastal Financial by 1.0% in the fourth quarter. American Century Companies Inc. now owns 157,238 shares of the company's stock valued at $13,351,000 after buying an additional 1,511 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Coastal Financial in the fourth quarter valued at $1,139,000. 59.24% of the stock is owned by institutional investors.
Coastal Financial Stock Performance
Coastal Financial stock traded down $0.46 during mid-day trading on Monday, hitting $87.43. 78,908 shares of the company's stock traded hands, compared to its average volume of 95,366. The firm has a 50 day simple moving average of $85.06 and a two-hundred day simple moving average of $84.49. Coastal Financial Co. has a fifty-two week low of $42.64 and a fifty-two week high of $102.25. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 26.90 and a beta of 0.94. 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 (NASDAQ:CCB - Get Free Report) last announced 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). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. The business had revenue of $139.54 million for the quarter, compared to analyst estimates of $158.65 million. On average, research analysts expect that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.
Insider Buying and Selling at Coastal Financial
In other news, Director Gregory A. Tisdel sold 1,600 shares of Coastal Financial stock in a transaction on Monday, April 14th. The stock was sold at an average price of $79.07, for a total transaction of $126,512.00. Following the completion of the sale, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joel G. Edwards sold 3,128 shares of Coastal Financial stock in a transaction on Friday, May 16th. The stock was sold at an average price of $88.44, for a total value of $276,640.32. Following the sale, the chief financial officer now directly owns 41,387 shares of the company's stock, valued at $3,660,266.28. This represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Insiders own 14.10% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Hovde Group decreased their target price on shares of Coastal Financial from $120.00 to $110.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Stephens reissued an "overweight" rating and issued a $100.00 target price on shares of Coastal Financial in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods decreased their target price on shares of Coastal Financial from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Raymond James decreased 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 research note on Wednesday, April 30th.
View Our Latest Stock Analysis on Coastal Financial
About Coastal Financial
(
Free Report)
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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