Truist Financial Corp Purchases 1,055 Shares of Coastal Financial Co. (NASDAQ:CCB)

Truist Financial Corp grew its holdings in Coastal Financial Co. (NASDAQ:CCB) by 5.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,276 shares of the company’s stock after buying an additional 1,055 shares during the period. Truist Financial Corp owned approximately 0.15% of Coastal Financial worth $1,722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Creative Planning bought a new stake in Coastal Financial in the third quarter worth $298,000. Rosenthal Henry Capital Advisors Inc. raised its stake in shares of Coastal Financial by 214.0% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 30,116 shares of the company’s stock valued at $1,626,000 after acquiring an additional 20,525 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Coastal Financial in the 3rd quarter worth about $377,000. Portside Wealth Group LLC raised its holdings in shares of Coastal Financial by 3.7% in the third quarter. Portside Wealth Group LLC now owns 4,669 shares of the company’s stock worth $252,000 after buying an additional 166 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in Coastal Financial by 79.9% in the third quarter. Los Angeles Capital Management LLC now owns 57,357 shares of the company’s stock worth $3,097,000 after purchasing an additional 25,482 shares during the period. 59.24% of the stock is currently owned by institutional investors.

Coastal Financial Stock Up 4.9 %

CCB stock opened at $96.68 on Friday. The firm has a 50 day moving average of $86.57 and a 200 day moving average of $70.30. The stock has a market capitalization of $1.31 billion, a PE ratio of 29.75 and a beta of 1.23. Coastal Financial Co. has a 52 week low of $35.67 and a 52 week high of $97.55. 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, 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%. Sell-side analysts forecast that Coastal Financial Co. will post 4.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CCB. Stephens reiterated an “overweight” rating and issued a $100.00 price target on shares of Coastal Financial in a report on Thursday, February 13th. Raymond James reiterated a “strong-buy” rating and issued a $100.00 price target (up from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Coastal Financial from $92.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th.

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.