8,537 Shares in Coastal Financial Co. (NASDAQ:CCB) Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD acquired a new stake in Coastal Financial Co. (NASDAQ:CCB) during the fourth quarter, HoldingsChannel reports. The firm acquired 8,537 shares of the company’s stock, valued at approximately $725,000.

A number of other institutional investors also recently bought and sold shares of CCB. Tower Research Capital LLC TRC raised its stake in shares of Coastal Financial by 179.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock worth $61,000 after purchasing an additional 461 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Coastal Financial during the 4th quarter worth $64,000. New York State Teachers Retirement System acquired a new stake in shares of Coastal Financial in the 4th quarter worth $87,000. USA Financial Formulas acquired a new stake in shares of Coastal Financial in the 4th quarter worth $122,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Coastal Financial in the fourth quarter valued at about $178,000. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $79.07, for a total transaction of $126,512.00. Following the completion of the transaction, the director now directly owns 14,006 shares in the company, valued at approximately $1,107,454.42. This trade represents a 10.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CCB has been the subject of several analyst reports. Keefe, Bruyette & Woods cut their price target on shares of Coastal Financial from $114.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Hovde Group dropped their target price on Coastal Financial from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Raymond James reduced their price target on Coastal Financial from $105.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Coastal Financial in a report on Tuesday, March 18th.

Coastal Financial Stock Up 0.4%

Shares of NASDAQ CCB opened at $84.31 on Monday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 25.94 and a beta of 0.94. Coastal Financial Co. has a 52 week low of $42.64 and a 52 week high of $102.25. The firm has a 50-day moving average price of $84.29 and a 200 day moving average price of $82.37. 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 (NASDAQ:CCB) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.30). The company had revenue of $139.54 million for the quarter, compared to analyst estimates of $158.65 million. Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. Equities research analysts anticipate that Coastal Financial Co. will post 4.59 EPS for the current fiscal 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.