Two Sigma Investments LP Increases Stock Position in Coastal Financial Co. (NASDAQ:CCB)

Two Sigma Investments LP raised its stake in Coastal Financial Co. (NASDAQ:CCB - Free Report) by 49.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,681 shares of the company's stock after acquiring an additional 14,494 shares during the period. Two Sigma Investments LP owned approximately 0.32% of Coastal Financial worth $3,709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. First Trust Advisors LP increased its holdings in shares of Coastal Financial by 1.9% in the 4th quarter. First Trust Advisors LP now owns 8,297 shares of the company's stock worth $704,000 after buying an additional 156 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Coastal Financial by 5.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,459 shares of the company's stock worth $548,000 after buying an additional 343 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Coastal Financial by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 45,886 shares of the company's stock worth $3,896,000 after buying an additional 400 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 buying an additional 461 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Coastal Financial by 4.6% in the 4th quarter. Empowered Funds LLC now owns 11,591 shares of the company's stock worth $984,000 after buying an additional 507 shares during the last quarter. 59.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coastal Financial

In other news, Director Gregory A. Tisdel sold 1,600 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 14,006 shares of the company's stock, valued at approximately $1,107,454.42. This represents a 10.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joel G. Edwards sold 3,128 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 41,387 shares of the company's stock, valued at $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.

Analysts Set New Price Targets

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

Coastal Financial Trading Down 0.5%

NASDAQ:CCB traded down $0.46 during mid-day trading on Monday, hitting $87.43. 78,908 shares of the stock traded hands, compared to its average volume of 95,366. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 26.90 and a beta of 0.94. Coastal Financial Co. has a 52 week low of $42.64 and a 52 week high of $102.25. The firm's 50 day moving average is $85.08 and its two-hundred day moving average is $84.59. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14.

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