Barclays PLC Increases Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

Barclays PLC lifted its position in shares of Coastal Financial Co. (NASDAQ:CCB) by 60.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,804 shares of the company’s stock after buying an additional 11,922 shares during the quarter. Barclays PLC’s holdings in Coastal Financial were worth $1,719,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Coastal Financial by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 359,861 shares of the company’s stock worth $16,603,000 after acquiring an additional 20,517 shares during the last quarter. State Street Corp increased its stake in shares of Coastal Financial by 2.4% during the 3rd quarter. State Street Corp now owns 314,274 shares of the company’s stock worth $16,968,000 after purchasing an additional 7,386 shares in the last quarter. Jacobs Asset Management LLC raised its position in shares of Coastal Financial by 9.1% during the 3rd quarter. Jacobs Asset Management LLC now owns 187,500 shares of the company’s stock worth $10,123,000 after purchasing an additional 15,683 shares during the last quarter. American Century Companies Inc. raised its position in shares of Coastal Financial by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 141,203 shares of the company’s stock worth $6,515,000 after purchasing an additional 26,690 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Coastal Financial by 188.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company’s stock valued at $4,967,000 after buying an additional 60,106 shares in the last quarter. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCB has been the subject of several recent research reports. Hovde Group raised their price target on Coastal Financial from $67.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on Coastal Financial from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, Raymond James upped their target price on shares of Coastal Financial from $61.00 to $73.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th.

Coastal Financial Stock Down 1.0 %

CCB stock opened at $83.72 on Friday. The company has a 50 day moving average price of $73.59 and a two-hundred day moving average price of $58.19. 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 stock has a market capitalization of $1.13 billion, a P/E ratio of 28.19 and a beta of 1.24. Coastal Financial Co. has a one year low of $35.67 and a one year high of $86.27.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Coastal Financial had a return on equity of 13.86% and a net margin of 5.98%. The business had revenue of $185.15 million during the quarter, compared to the consensus estimate of $154.30 million. As a group, sell-side analysts expect that Coastal Financial Co. will post 3.55 EPS for the current year.

Insider Buying and Selling at Coastal Financial

In other news, CEO Eric M. Sprink sold 5,000 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $52.01, for a total transaction of $260,050.00. Following the completion of the sale, the chief executive officer now directly owns 305,285 shares in the company, valued at $15,877,872.85. This represents a 1.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jonathan E. Sand sold 1,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $74.15, for a total value of $74,150.00. Following the completion of the transaction, the executive vice president now directly owns 19,611 shares in the company, valued at $1,454,155.65. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,346 shares of company stock worth $2,947,336 in the last 90 days. 16.82% of the stock is owned by company insiders.

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.