XTX Topco Ltd Invests $570,000 in Coastal Financial Corporation (NASDAQ:CCB)

XTX Topco Ltd acquired a new stake in shares of Coastal Financial Corporation (NASDAQ:CCB - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,301 shares of the company's stock, valued at approximately $570,000.

Other institutional investors have also recently modified their holdings of the company. Royce & Associates LP raised its position in shares of Coastal Financial by 18.7% during the 1st quarter. Royce & Associates LP now owns 106,339 shares of the company's stock valued at $9,614,000 after buying an additional 16,785 shares during the period. Emerald Advisers LLC grew its stake in shares of Coastal Financial by 32.8% during the first quarter. Emerald Advisers LLC now owns 7,242 shares of the company's stock worth $655,000 after purchasing an additional 1,787 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Coastal Financial by 15.8% during the first quarter. Arizona State Retirement System now owns 3,844 shares of the company's stock worth $348,000 after purchasing an additional 524 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in shares of Coastal Financial by 9.9% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 64,873 shares of the company's stock worth $5,865,000 after purchasing an additional 5,869 shares in the last quarter. Finally, Arcus Capital Partners LLC acquired a new position in shares of Coastal Financial during the first quarter worth $1,141,000. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CCB shares. Raymond James Financial lowered 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 raised their price objective on shares of Coastal Financial from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Finally, Hovde Group cut their price objective 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.

Coastal Financial Price Performance

Shares of NASDAQ:CCB traded up $3.66 during trading on Friday, reaching $99.17. The company had a trading volume of 157,099 shares, compared to its average volume of 132,202. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.04 and a current ratio of 1.06. The firm has a market capitalization of $1.49 billion, a PE ratio of 30.51 and a beta of 1.01. Coastal Financial Corporation has a twelve month low of $46.56 and a twelve month high of $106.38. The firm's fifty day moving average is $95.17 and its 200 day moving average is $89.55.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.16). Coastal Financial had a net margin of 7.02% and a return on equity of 11.69%. The firm had revenue of $119.43 million during the quarter, compared to analysts' expectations of $158.05 million. On average, equities analysts forecast that Coastal Financial Corporation will post 4.59 EPS for the current year.

Insiders Place Their Bets

In other Coastal Financial news, 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 directly owned 41,387 shares of the company's stock, valued at $3,660,266.28. This represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.10% of the stock is currently owned by company insiders.

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.