Coastal Financial Co. (NASDAQ:CCB) is Riverwater Partners LLC’s 9th Largest Position

Riverwater Partners LLC lowered its position in Coastal Financial Co. (NASDAQ:CCB) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,689 shares of the company’s stock after selling 1,981 shares during the quarter. Coastal Financial makes up approximately 1.5% of Riverwater Partners LLC’s holdings, making the stock its 9th biggest position. Riverwater Partners LLC owned about 0.27% of Coastal Financial worth $3,115,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CCB. Point72 DIFC Ltd bought a new position in shares of Coastal Financial during the 3rd quarter valued at $31,000. Meeder Asset Management Inc. acquired a new position in Coastal Financial during the fourth quarter worth $64,000. FMR LLC raised its holdings in Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after buying an additional 228 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Coastal Financial in the fourth quarter worth about $87,000. Finally, Quantbot Technologies LP bought a new stake in shares of Coastal Financial during the 3rd quarter worth about $119,000. 59.24% of the stock is owned by institutional investors and hedge funds.

Coastal Financial Stock Performance

Shares of NASDAQ CCB opened at $79.79 on Friday. Coastal Financial Co. has a 12 month low of $37.30 and a 12 month high of $102.25. The company has a market cap of $1.20 billion, a P/E ratio of 24.55 and a beta of 1.00. The business’s 50 day moving average is $88.38 and its two-hundred day moving average is $76.93. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14.

Coastal Financial (NASDAQ:CCB) last announced its earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. On average, equities analysts expect that Coastal Financial Co. will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

CCB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Raymond James lifted their price target on shares of Coastal Financial from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Coastal Financial in a 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.