FNY Investment Advisers LLC Invests $339,000 in Coastal Financial Co. (NASDAQ:CCB)

FNY Investment Advisers LLC purchased a new position in shares of Coastal Financial Co. (NASDAQ:CCB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,000 shares of the company’s stock, valued at approximately $339,000.

A number of other institutional investors also recently added to or reduced their stakes in CCB. Charles Schwab Investment Management Inc. increased its position in Coastal Financial by 188.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company’s stock valued at $4,967,000 after acquiring an additional 60,106 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in Coastal Financial in the third quarter valued at $2,034,000. JPMorgan Chase & Co. raised its stake in Coastal Financial by 40.9% during the third quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company’s stock worth $6,321,000 after purchasing an additional 33,964 shares during the period. Riverwater Partners LLC raised its holdings in shares of Coastal Financial by 367.9% in the 3rd quarter. Riverwater Partners LLC now owns 38,670 shares of the company’s stock worth $2,012,000 after purchasing an additional 30,405 shares during the period. Finally, American Century Companies Inc. grew its stake in Coastal Financial by 23.3% during the second quarter. American Century Companies Inc. now owns 141,203 shares of the company’s stock worth $6,515,000 after buying an additional 26,690 shares during the period. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on Coastal Financial from $92.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Hovde Group upped their price target on shares of Coastal Financial from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Raymond James upped their target price on Coastal Financial from $61.00 to $73.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th.

Insider Activity at Coastal Financial

In other Coastal Financial news, CEO Eric M. Sprink sold 3,705 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $60.01, for a total value of $222,337.05. Following the completion of the transaction, the chief executive officer now directly owns 275,683 shares in the company, valued at $16,543,736.83. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan E. Sand sold 1,000 shares of Coastal Financial stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $74.15, for a total value of $74,150.00. Following the transaction, the executive vice president now owns 19,611 shares of the company’s stock, valued at $1,454,155.65. This represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,346 shares of company stock worth $1,532,286 in the last ninety days. Company insiders own 16.82% of the company’s stock.

Coastal Financial Price Performance

Shares of CCB stock opened at $81.33 on Tuesday. Coastal Financial Co. has a 12 month low of $35.67 and a 12 month high of $87.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.10 billion, a P/E ratio of 27.38 and a beta of 1.22. The stock has a 50 day moving average of $78.43 and a two-hundred day moving average of $61.49.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. Coastal Financial had a return on equity of 13.86% and a net margin of 5.98%. The firm had revenue of $185.15 million during the quarter, compared to the consensus estimate of $154.30 million. As a group, equities analysts expect that Coastal Financial Co. will post 3.55 EPS for the current year.

Coastal Financial Company 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.