Principal Financial Group Inc. Has $648,000 Stake in Coastal Financial Co. (NASDAQ:CCB)

Principal Financial Group Inc. boosted its position in shares of Coastal Financial Co. (NASDAQ:CCB) by 9.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,630 shares of the company’s stock after purchasing an additional 653 shares during the period. Principal Financial Group Inc. owned 0.06% of Coastal Financial worth $648,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in Coastal Financial in the 3rd quarter worth approximately $31,000. New York State Teachers Retirement System acquired a new position in shares of Coastal Financial in the fourth quarter worth $87,000. FMR LLC raised 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 acquiring an additional 228 shares in the last quarter. USA Financial Formulas acquired a new stake in Coastal Financial during the fourth quarter valued at $122,000. Finally, Quantbot Technologies LP purchased a new position in Coastal Financial in the third quarter valued at about $119,000. 59.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CCB. Keefe, Bruyette & Woods increased their price objective on Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a report on Tuesday. Raymond James reissued a “strong-buy” rating and issued a $100.00 target price (up from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Finally, Stephens restated an “overweight” rating and set a $100.00 price target on shares of Coastal Financial in a report on Thursday, February 13th.

Coastal Financial Stock Performance

Shares of NASDAQ CCB opened at $87.11 on Friday. The business’s 50-day simple moving average is $87.70 and its 200-day simple moving average is $71.90. Coastal Financial Co. has a 52 week low of $35.67 and a 52 week high of $102.25. 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 firm has a market cap of $1.18 billion, a price-to-earnings ratio of 26.80 and a beta of 1.21.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates 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 research analysts expect that Coastal Financial Co. will post 4.59 earnings per share 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.