Zurcher Kantonalbank Zurich Cantonalbank Has $166,000 Holdings in Coastal Financial Co. (NASDAQ:CCB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Coastal Financial Co. (NASDAQ:CCB) by 190.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,081 shares of the company’s stock after buying an additional 2,019 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coastal Financial were worth $166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. nVerses Capital LLC boosted its holdings in Coastal Financial by 300.0% in the third quarter. nVerses Capital LLC now owns 800 shares of the company’s stock worth $43,000 after acquiring an additional 600 shares in the last quarter. FMR LLC raised its position 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 purchasing an additional 228 shares during the period. Quantbot Technologies LP bought a new position in shares of Coastal Financial in the 3rd quarter worth $119,000. Quest Partners LLC acquired a new stake in Coastal Financial in the 3rd quarter valued at $214,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Coastal Financial by 22,360.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company’s stock valued at $207,000 after purchasing an additional 4,472 shares in the last quarter. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Stock Performance

NASDAQ CCB opened at $74.18 on Tuesday. The company has a fifty day moving average price of $66.25 and a 200-day moving average price of $54.69. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 24.98 and a beta of 1.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. Coastal Financial Co. has a 1 year low of $35.67 and a 1 year high of $79.59.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings results on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $185.15 million for the quarter, compared to analysts’ expectations of $154.30 million. Coastal Financial had a net margin of 5.98% and a return on equity of 13.86%. As a group, equities research analysts predict that Coastal Financial Co. will post 3.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CCB shares. Hovde Group lifted their price objective on shares of Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price target on shares of Coastal Financial from $75.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Raymond James boosted their price objective on Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th.

Insider Activity

In other Coastal Financial news, CEO Eric M. Sprink sold 3,223 shares of Coastal Financial stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $50.44, for a total value of $162,568.12. Following the sale, the chief executive officer now owns 313,689 shares of the company’s stock, valued at approximately $15,822,473.16. The trade was a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jonathan E. Sand sold 1,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $74.15, for a total transaction of $74,150.00. Following the completion of the transaction, the executive vice president now owns 19,611 shares in the company, valued at approximately $1,454,155.65. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,921 shares of company stock valued at $4,159,029 over the last three months. Corporate insiders own 16.82% of the company’s stock.

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.