Susquehanna Fundamental Investments LLC Invests $751,000 in Coastal Financial Co. (NASDAQ:CCB)

Susquehanna Fundamental Investments LLC purchased a new stake in Coastal Financial Co. (NASDAQ:CCB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,850 shares of the company's stock, valued at approximately $751,000. Susquehanna Fundamental Investments LLC owned approximately 0.07% of Coastal Financial as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CCB. Barclays PLC boosted its stake in shares of Coastal Financial by 60.0% during the 3rd quarter. Barclays PLC now owns 31,804 shares of the company's stock worth $1,719,000 after purchasing an additional 11,922 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Coastal Financial during the third quarter worth approximately $377,000. JPMorgan Chase & Co. grew its stake in Coastal Financial by 40.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company's stock worth $6,321,000 after acquiring an additional 33,964 shares during the period. FNY Investment Advisers LLC purchased a new stake in Coastal Financial in the 4th quarter worth approximately $339,000. Finally, Cox Capital Mgt LLC raised its holdings in Coastal Financial by 44.2% in the 4th quarter. Cox Capital Mgt LLC now owns 48,614 shares of the company's stock valued at $4,128,000 after acquiring an additional 14,905 shares during the last quarter. Hedge funds and other institutional investors own 59.24% of the company's stock.

Wall Street Analysts Forecast Growth

CCB has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped 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 report on Wednesday, April 30th. Raymond James reduced their price objective on Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 30th. Stephens reiterated an "overweight" rating and issued a $100.00 target price on shares of Coastal Financial in a research note on Tuesday, March 18th. Finally, 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.

Coastal Financial Stock Down 1.3 %

Shares of CCB stock traded down $1.02 during trading hours on Wednesday, hitting $78.46. 75,572 shares of the company were exchanged, compared to its average volume of 92,496. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The business's 50-day simple moving average is $85.19 and its two-hundred day simple moving average is $81.73. Coastal Financial Co. has a one year low of $41.20 and a one year high of $102.25. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 24.40 and a beta of 0.94.

Coastal Financial (NASDAQ:CCB - Get Free Report) last announced its quarterly earnings data 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). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. The firm had revenue of $139.54 million for the quarter, compared to the consensus estimate of $158.65 million. Sell-side analysts predict that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

Insider Activity at Coastal Financial

In other news, Director Gregory A. Tisdel sold 1,600 shares of the stock in a transaction on Monday, April 14th. The stock was 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 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 this link. Insiders own 16.82% of the company's stock.

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.