Swiss National Bank Lowers Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

Swiss National Bank trimmed its stake in Coastal Financial Co. (NASDAQ:CCBFree Report) by 10.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,265 shares of the company’s stock after selling 2,600 shares during the period. Swiss National Bank’s holdings in Coastal Financial were worth $989,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Coastal Financial by 59.8% in the 4th quarter. SG Americas Securities LLC now owns 3,978 shares of the company’s stock worth $177,000 after purchasing an additional 1,489 shares during the period. Cox Capital Mgt LLC lifted its position in Coastal Financial by 79.8% during the fourth quarter. Cox Capital Mgt LLC now owns 35,454 shares of the company’s stock valued at $1,575,000 after acquiring an additional 15,730 shares during the last quarter. Vanguard Group Inc. lifted its position in Coastal Financial by 1.6% during the third quarter. Vanguard Group Inc. now owns 577,945 shares of the company’s stock valued at $24,800,000 after acquiring an additional 9,244 shares during the last quarter. Kennedy Capital Management LLC lifted its position in Coastal Financial by 17.2% during the third quarter. Kennedy Capital Management LLC now owns 263,688 shares of the company’s stock valued at $11,315,000 after acquiring an additional 38,632 shares during the last quarter. Finally, Corton Capital Inc. purchased a new stake in Coastal Financial during the third quarter valued at approximately $214,000. 59.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Hovde Group decreased their target price on shares of Coastal Financial from $57.50 to $55.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd.

Get Our Latest Stock Analysis on Coastal Financial

Coastal Financial Trading Up 1.4 %

Shares of Coastal Financial stock opened at $43.66 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. Coastal Financial Co. has a 12-month low of $34.02 and a 12-month high of $48.50. The firm has a market capitalization of $585.87 million, a price-to-earnings ratio of 15.27 and a beta of 1.16. The firm’s 50 day simple moving average is $40.77 and its two-hundred day simple moving average is $40.72.

Coastal Financial (NASDAQ:CCBGet Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.11). The company had revenue of $147.89 million for the quarter, compared to analyst estimates of $121.10 million. Coastal Financial had a net margin of 6.55% and a return on equity of 14.31%. Analysts predict that Coastal Financial Co. will post 3.34 EPS for the current year.

Insider Transactions at Coastal Financial

In other news, CFO Joel G. Edwards sold 1,034 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $44.45, for a total value of $45,961.30. Following the sale, the chief financial officer now owns 56,369 shares in the company, valued at $2,505,602.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 16.82% of the company’s stock.

About Coastal Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Coastal Financial (NASDAQ:CCB)

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