Susquehanna Fundamental Investments LLC Acquires New Holdings in Coastal Financial Co. (NASDAQ:CCB)

Susquehanna Fundamental Investments LLC bought a new position in shares of Coastal Financial Co. (NASDAQ:CCB - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,850 shares of the company's stock, valued at approximately $751,000. Susquehanna Fundamental Investments LLC owned 0.07% of Coastal Financial as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its holdings 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 buying an additional 423,864 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Coastal Financial by 1,067.9% in the 4th quarter. Wellington Management Group LLP now owns 456,887 shares of the company's stock valued at $38,794,000 after buying an additional 417,767 shares during the period. Kennedy Capital Management LLC boosted its position in shares of Coastal Financial by 38.6% during the 4th quarter. Kennedy Capital Management LLC now owns 299,456 shares of the company's stock worth $25,427,000 after purchasing an additional 83,331 shares in the last quarter. Royce & Associates LP raised its holdings in Coastal Financial by 795.5% during the fourth quarter. Royce & Associates LP now owns 89,554 shares of the company's stock worth $7,604,000 after purchasing an additional 79,554 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Coastal Financial by 11.4% during the fourth quarter. Vanguard Group Inc. now owns 685,385 shares of the company's stock worth $58,196,000 after purchasing an additional 70,272 shares in the last quarter. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Coastal Financial Price Performance

CCB stock traded up $1.16 during trading hours on Thursday, hitting $80.17. 71,108 shares of the stock traded hands, compared to its average volume of 92,774. The stock has a 50-day simple moving average of $84.80 and a 200 day simple moving average of $81.72. The company has a market cap of $1.20 billion, a P/E ratio of 24.67 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial Co. has a one year low of $41.20 and a one year high of $102.25.

Coastal Financial (NASDAQ:CCB - Get Free Report) last posted 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). The company had revenue of $139.54 million for the quarter, compared to analyst estimates of $158.65 million. Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. Equities analysts forecast that Coastal Financial Co. will post 4.59 earnings per share for the current year.

Insider Transactions at Coastal Financial

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 14,006 shares in the company, valued at $1,107,454.42. This represents a 10.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCB. Keefe, Bruyette & Woods cut their price objective on 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 decreased their price target on Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 30th. Hovde Group dropped their price objective on Coastal Financial from $120.00 to $110.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, 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.

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.