UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $2.16 Million Stake in Coastal Financial Co. (NASDAQ:CCB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) by 101.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,417 shares of the company's stock after buying an additional 12,814 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.19% of Coastal Financial worth $2,158,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its position in shares of Coastal Financial by 47.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,322,325 shares of the company's stock valued at $112,279,000 after acquiring an additional 423,864 shares during the period. Vanguard Group Inc. grew its stake in shares of Coastal Financial by 11.4% during the 4th quarter. Vanguard Group Inc. now owns 685,385 shares of the company's stock worth $58,196,000 after acquiring an additional 70,272 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Coastal Financial by 1,067.9% during the 4th quarter. Wellington Management Group LLP now owns 456,887 shares of the company's stock worth $38,794,000 after acquiring an additional 417,767 shares in the last quarter. Azora Capital LP bought a new position in shares of Coastal Financial during the 4th quarter worth approximately $33,794,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Coastal Financial by 9.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 385,433 shares of the company's stock valued at $32,727,000 after buying an additional 33,980 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company's stock.

Wall Street Analysts Forecast Growth

CCB has been the subject of several analyst reports. 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. 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. 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, 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.

Insiders Place Their Bets

In related news, CFO Joel G. Edwards sold 3,128 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $88.44, for a total value of $276,640.32. Following the completion of the transaction, the chief financial officer now owns 41,387 shares of the company's stock, valued at $3,660,266.28. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory A. Tisdel sold 1,600 shares of the business's stock in a transaction dated 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 position. The disclosure for this sale can be found here. Company insiders own 14.10% of the company's stock.

Coastal Financial Stock Up 2.0%

Shares of NASDAQ:CCB traded up $1.68 during midday trading on Friday, hitting $87.12. The stock had a trading volume of 60,422 shares, compared to its average volume of 95,465. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The business's 50-day simple moving average is $84.78 and its 200-day simple moving average is $84.81. Coastal Financial Co. has a 12 month low of $42.64 and a 12 month high of $102.25. The company has a market cap of $1.31 billion, a P/E ratio of 26.81 and a beta of 0.96.

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

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.