Vanguard Group Inc. Buys 9,244 Shares of Coastal Financial Co. (NASDAQ:CCB)

Vanguard Group Inc. raised its stake in Coastal Financial Co. (NASDAQ:CCB) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 577,945 shares of the company’s stock after buying an additional 9,244 shares during the period. Vanguard Group Inc. owned about 4.35% of Coastal Financial worth $24,800,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. acquired a new position in shares of Coastal Financial in the 2nd quarter valued at about $30,000. Tower Research Capital LLC TRC lifted its stake in shares of Coastal Financial by 191.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,528 shares of the company’s stock valued at $61,000 after purchasing an additional 1,004 shares during the period. BNP Paribas Arbitrage SNC lifted its stake in shares of Coastal Financial by 99.5% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 2,647 shares of the company’s stock valued at $95,000 after purchasing an additional 1,320 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Coastal Financial by 15.4% in the 3rd quarter. Lazard Asset Management LLC now owns 2,352 shares of the company’s stock valued at $100,000 after purchasing an additional 313 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Coastal Financial in the 3rd quarter valued at about $107,000. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Stock Down 1.2 %

Shares of NASDAQ:CCB opened at $38.38 on Friday. The company has a market capitalization of $513.83 million, a price-to-earnings ratio of 11.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50-day moving average is $38.31 and its 200-day moving average is $40.44. Coastal Financial Co. has a 1 year low of $32.20 and a 1 year high of $48.50.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.28). Coastal Financial had a net margin of 8.29% and a return on equity of 16.05%. The business had revenue of $124.35 million during the quarter, compared to analyst estimates of $98.40 million. Equities research analysts predict that Coastal Financial Co. will post 3.71 earnings per share for the current year.

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.