Proficio Capital Partners LLC Invests $1.14 Million in Coastal Financial Co. (NASDAQ:CCB)

Proficio Capital Partners LLC bought a new position in Coastal Financial Co. (NASDAQ:CCB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,416 shares of the company’s stock, valued at approximately $1,139,000. Proficio Capital Partners LLC owned about 0.10% of Coastal Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CCB. Creative Planning bought a new stake in shares of Coastal Financial during the 3rd quarter valued at about $298,000. Principal Financial Group Inc. bought a new stake in shares of Coastal Financial during the 3rd quarter valued at about $377,000. Portside Wealth Group LLC grew its position in shares of Coastal Financial by 3.7% during the 3rd quarter. Portside Wealth Group LLC now owns 4,669 shares of the company’s stock valued at $252,000 after buying an additional 166 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Coastal Financial by 79.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 57,357 shares of the company’s stock valued at $3,097,000 after buying an additional 25,482 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in shares of Coastal Financial by 7.8% during the 3rd quarter. GSA Capital Partners LLP now owns 11,850 shares of the company’s stock valued at $640,000 after buying an additional 857 shares during the last quarter. Institutional investors own 59.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CCB shares. Stephens reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Coastal Financial in a research report on Thursday, February 13th. Raymond James reaffirmed a “strong-buy” rating and set a $100.00 price objective (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a research report on Tuesday.

Coastal Financial Trading Down 4.7 %

Coastal Financial stock opened at $82.99 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $87.70 and a two-hundred day moving average price of $71.90. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 25.54 and a beta of 1.21. Coastal Financial Co. has a 52-week low of $35.67 and a 52-week high of $102.25.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share 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 expect that Coastal Financial Co. will post 4.59 earnings per share for the current 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.