New York State Teachers Retirement System Makes New $87,000 Investment in Coastal Financial Co. (NASDAQ:CCB)

New York State Teachers Retirement System purchased a new stake in shares of Coastal Financial Co. (NASDAQ:CCB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,019 shares of the company’s stock, valued at approximately $87,000.

Other institutional investors also recently modified their holdings of the company. Portside Wealth Group LLC boosted its stake in 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 purchasing an additional 166 shares during the period. FMR LLC lifted its holdings in shares of Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after buying an additional 228 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Coastal Financial by 4.6% in the fourth quarter. Empowered Funds LLC now owns 11,591 shares of the company’s stock valued at $984,000 after acquiring an additional 507 shares during the period. SG Americas Securities LLC grew its stake in shares of Coastal Financial by 8.7% in the fourth quarter. SG Americas Securities LLC now owns 6,517 shares of the company’s stock worth $553,000 after acquiring an additional 522 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Coastal Financial during the third quarter worth $31,000. Institutional investors own 59.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

Coastal Financial Trading Up 1.3 %

Shares of CCB opened at $90.72 on Tuesday. The stock has a fifty day moving average price of $85.83 and a two-hundred day moving average price of $69.65. 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 company has a market cap of $1.23 billion, a price-to-earnings ratio of 27.91 and a beta of 1.23. Coastal Financial Co. has a 52-week low of $35.67 and a 52-week high of $92.68.

Coastal Financial (NASDAQ:CCB) last announced its 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%. Analysts predict 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.