Los Angeles Capital Management LLC Has $2.45 Million Stock Position in Coastal Financial Co. (NASDAQ:CCB)

Los Angeles Capital Management LLC trimmed its holdings in Coastal Financial Co. (NASDAQ:CCB) by 49.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,837 shares of the company’s stock after selling 28,520 shares during the quarter. Los Angeles Capital Management LLC owned 0.21% of Coastal Financial worth $2,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truist Financial Corp increased its holdings in shares of Coastal Financial by 5.5% during the 4th quarter. Truist Financial Corp now owns 20,276 shares of the company’s stock worth $1,722,000 after purchasing an additional 1,055 shares during the period. Principal Financial Group Inc. grew its position in Coastal Financial by 9.4% during the fourth quarter. Principal Financial Group Inc. now owns 7,630 shares of the company’s stock worth $648,000 after buying an additional 653 shares in the last quarter. Stieven Capital Advisors L.P. increased its stake in Coastal Financial by 37.9% during the fourth quarter. Stieven Capital Advisors L.P. now owns 102,213 shares of the company’s stock valued at $8,679,000 after acquiring an additional 28,100 shares during the period. New York State Teachers Retirement System acquired a new position in Coastal Financial in the 4th quarter valued at approximately $87,000. Finally, Empowered Funds LLC lifted its position in shares of Coastal Financial by 4.6% in the 4th quarter. Empowered Funds LLC now owns 11,591 shares of the company’s stock worth $984,000 after acquiring an additional 507 shares during the period. Institutional investors and hedge funds own 59.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CCB. Stephens restated an “overweight” rating and set a $100.00 price objective on shares of Coastal Financial in a research report on Thursday, February 13th. Raymond James reissued a “strong-buy” rating and issued a $100.00 price target (up previously from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Coastal Financial from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th.

Coastal Financial Price Performance

Coastal Financial stock opened at $96.68 on Friday. The business has a 50 day simple moving average of $86.57 and a 200 day simple moving average of $70.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $1.31 billion, a PE ratio of 29.75 and a beta of 1.23. Coastal Financial Co. has a one year low of $35.67 and a one year high of $97.55.

Coastal Financial (NASDAQ:CCB) last issued its earnings results on Tuesday, February 4th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. On average, sell-side analysts forecast that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

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.