American Century Companies Inc. Grows Position in Coastal Financial Co. (NASDAQ:CCB)

American Century Companies Inc. grew its holdings in Coastal Financial Co. (NASDAQ:CCB) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 157,238 shares of the company’s stock after buying an additional 1,511 shares during the period. American Century Companies Inc.’s holdings in Coastal Financial were worth $13,351,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in Coastal Financial in the 3rd quarter valued at $31,000. FMR LLC increased its position in Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after purchasing an additional 228 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Coastal Financial during the fourth quarter worth about $87,000. Quantbot Technologies LP acquired a new position in Coastal Financial in the 3rd quarter valued at about $119,000. Finally, USA Financial Formulas acquired a new position in Coastal Financial in the 4th quarter valued at about $122,000. 59.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $100.00 price target on shares of Coastal Financial in a research report on Tuesday, March 18th. Raymond James restated a “strong-buy” rating and issued a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods increased their price target on Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th.

Coastal Financial Stock Down 0.5 %

Coastal Financial stock opened at $89.96 on Wednesday. The company has a market capitalization of $1.35 billion, a PE ratio of 27.68 and a beta of 1.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. Coastal Financial Co. has a fifty-two week low of $37.30 and a fifty-two week high of $102.25. The firm has a 50 day moving average price of $88.32 and a 200 day moving average price of $76.58.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 earnings per share (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%. Research analysts expect that Coastal Financial Co. will post 4.59 earnings per share for the current 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.