FJ Capital Management LLC Invests $4.75 Million in Coastal Financial Co. (NASDAQ:CCB)

FJ Capital Management LLC acquired a new stake in Coastal Financial Co. (NASDAQ:CCB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 55,877 shares of the company's stock, valued at approximately $4,745,000. FJ Capital Management LLC owned about 0.41% of Coastal Financial as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of CCB. Tower Research Capital LLC TRC raised its position in shares of Coastal Financial by 179.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock valued at $61,000 after acquiring an additional 461 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Coastal Financial in the fourth quarter valued at $64,000. New York State Teachers Retirement System acquired a new position in Coastal Financial in the fourth quarter valued at about $87,000. USA Financial Formulas acquired a new stake in Coastal Financial in the 4th quarter valued at approximately $122,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Coastal Financial during the 4th quarter worth approximately $178,000. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gregory A. Tisdel sold 1,600 shares of the company's stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 16.82% of the company's stock.

Coastal Financial Trading Up 0.8%

Shares of NASDAQ CCB traded up $0.70 during mid-day trading on Wednesday, hitting $87.30. 54,713 shares of the company traded hands, compared to its average volume of 93,586. 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 stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 26.86 and a beta of 0.94. The business has a 50 day moving average of $84.20 and a two-hundred day moving average of $82.60. Coastal Financial Co. has a 1 year low of $42.64 and a 1 year high of $102.25.

Coastal Financial (NASDAQ:CCB - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $158.65 million. On average, sell-side analysts anticipate that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CCB shares. Hovde Group reduced their price target on Coastal Financial from $120.00 to $110.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods lowered their target price on Coastal Financial from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Raymond James dropped their price objective on 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. Finally, Stephens reaffirmed an "overweight" rating and set a $100.00 target price on shares of Coastal Financial in a research report on Tuesday, March 18th.

Coastal Financial 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.