Coastal Financial Co. (NASDAQ:CCB) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its holdings in shares of Coastal Financial Co. (NASDAQ:CCB) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,591 shares of the company’s stock after acquiring an additional 507 shares during the period. Empowered Funds LLC owned 0.09% of Coastal Financial worth $984,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CCB. Principal Financial Group Inc. purchased a new position in Coastal Financial in the 3rd quarter valued at $377,000. Barclays PLC lifted its stake in shares of Coastal Financial by 60.0% in the 3rd quarter. Barclays PLC now owns 31,804 shares of the company’s stock worth $1,719,000 after acquiring an additional 11,922 shares during the period. PDT Partners LLC purchased a new stake in shares of Coastal Financial in the third quarter valued at about $650,000. Charles Schwab Investment Management Inc. increased its stake in shares of Coastal Financial by 188.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company’s stock worth $4,967,000 after acquiring an additional 60,106 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. increased its stake in shares of Coastal Financial by 214.0% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 30,116 shares of the company’s stock worth $1,626,000 after acquiring an additional 20,525 shares during the period. 59.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCB has been the topic of a number of analyst reports. Raymond James reaffirmed a “strong-buy” rating and issued a $100.00 price objective (up previously from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Stephens restated an “overweight” rating and issued a $100.00 price target on shares of Coastal Financial in a research note on Thursday, February 13th. Keefe, Bruyette & Woods increased their price objective on Coastal Financial from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, Hovde Group raised their target price on Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th.

Coastal Financial Price Performance

CCB stock opened at $89.97 on Tuesday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 27.68 and a beta of 1.23. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $84.77 and a 200-day moving average of $68.13. Coastal Financial Co. has a 12-month low of $35.67 and a 12-month high of $91.39.

Coastal Financial (NASDAQ:CCB) last posted its earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share 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%. As a group, equities analysts expect that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

About Coastal Financial

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.