UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 12,814 Shares of Coastal Financial Co. (NASDAQ:CCB)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCB. Tower Research Capital LLC TRC boosted its stake in 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. bought a new stake in Coastal Financial during the 4th quarter worth about $64,000. New York State Teachers Retirement System acquired a new position in shares of Coastal Financial during the 4th quarter worth about $87,000. KLP Kapitalforvaltning AS acquired a new position in shares of Coastal Financial during the 4th quarter worth about $178,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Coastal Financial during the 4th quarter worth about $214,000. 59.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coastal Financial

In other Coastal Financial news, CFO Joel G. Edwards sold 3,128 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $88.44, for a total value of $276,640.32. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory A. Tisdel sold 1,600 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $79.07, for a total transaction of $126,512.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders own 14.10% of the company's stock.

Analyst Upgrades and Downgrades

CCB has been the subject of a number of recent research reports. Raymond James reduced their price objective 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. Stephens restated an "overweight" rating and set a $100.00 price objective on shares of Coastal Financial in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods reduced their price objective 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 reduced their price objective 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.

Coastal Financial Stock Performance

NASDAQ:CCB traded up $1.94 during mid-day trading on Tuesday, hitting $91.38. The stock had a trading volume of 225,563 shares, compared to its average volume of 96,428. Coastal Financial Co. has a twelve month low of $42.64 and a twelve month high of $102.25. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 28.12 and a beta of 0.96. The company's 50 day simple moving average is $84.93 and its 200 day simple moving average is $85.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its 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 firm had revenue of $139.54 million during the quarter, compared to analyst estimates 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 forecast 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.