Principal Financial Group Inc. Has $648,000 Stock Position in Coastal Financial Co. (NASDAQ:CCB)

Principal Financial Group Inc. boosted its holdings in Coastal Financial Co. (NASDAQ:CCB) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,630 shares of the company’s stock after buying an additional 653 shares during the period. Principal Financial Group Inc.’s holdings in Coastal Financial were worth $648,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

CCB has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a research note on Tuesday. Raymond James restated a “strong-buy” rating and set a $100.00 price objective (up from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Finally, Stephens reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Coastal Financial in a research report on Thursday, February 13th.

Coastal Financial Stock Performance

NASDAQ:CCB opened at $87.11 on Friday. The firm has a market capitalization of $1.18 billion, a PE ratio of 26.80 and a beta of 1.21. 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 Co. has a 12-month low of $35.67 and a 12-month high of $102.25. The firm has a 50-day moving average price of $87.70 and a 200 day moving average price of $71.90.

Coastal Financial (NASDAQ:CCB) last issued 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%. Research analysts anticipate that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal 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.