SG Americas Securities LLC Acquires 522 Shares of Coastal Financial Co. (NASDAQ:CCB)

SG Americas Securities LLC raised its stake in Coastal Financial Co. (NASDAQ:CCB) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,517 shares of the company’s stock after buying an additional 522 shares during the quarter. SG Americas Securities LLC’s holdings in Coastal Financial were worth $553,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CCB. Point72 DIFC Ltd bought a new stake in Coastal Financial in the 3rd quarter valued at $31,000. nVerses Capital LLC lifted its holdings in shares of Coastal Financial by 300.0% in the third quarter. nVerses Capital LLC now owns 800 shares of the company’s stock valued at $43,000 after purchasing an additional 600 shares in the last quarter. FMR LLC lifted its holdings in shares of Coastal Financial by 21.0% in the third quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after purchasing an additional 228 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Coastal Financial during the fourth quarter worth about $122,000. Finally, Quantbot Technologies LP bought a new position in shares of Coastal Financial during the third quarter worth about $119,000. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Stock Performance

Shares of NASDAQ CCB opened at $89.18 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $82.12 and a 200 day moving average price of $65.12. The stock has a market capitalization of $1.21 billion, a PE ratio of 27.44 and a beta of 1.22. Coastal Financial Co. has a 52 week low of $35.67 and a 52 week high of $91.39.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 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%. Analysts predict that Coastal Financial Co. will post 4.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CCB has been the topic of several research reports. Hovde Group boosted their target price on Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Raymond James reissued a “strong-buy” rating and issued a $100.00 price objective (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised their target price on shares of Coastal Financial from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th.

Insider Activity

In other news, EVP Jonathan E. Sand sold 1,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $74.15, for a total value of $74,150.00. Following the transaction, the executive vice president now directly owns 19,611 shares of the company’s stock, valued at $1,454,155.65. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric M. Sprink sold 3,482 shares of Coastal Financial stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $71.14, for a total transaction of $247,709.48. Following the sale, the chief executive officer now directly owns 244,906 shares of the company’s stock, valued at $17,422,612.84. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,482 shares of company stock valued at $526,869 in the last quarter. Company insiders own 16.82% of the company’s stock.

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.