Swiss National Bank Purchases 3,700 Shares of Coastal Financial Co. (NASDAQ:CCB)

Swiss National Bank raised its position in shares of Coastal Financial Co. (NASDAQ:CCB) by 16.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,965 shares of the company’s stock after buying an additional 3,700 shares during the quarter. Swiss National Bank’s holdings in Coastal Financial were worth $2,205,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CCB. Point72 DIFC Ltd purchased a new position in Coastal Financial in the third quarter worth about $31,000. FMR LLC lifted its stake in shares of Coastal Financial by 21.0% in the 3rd quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after purchasing an additional 228 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of Coastal Financial in the 4th quarter worth approximately $87,000. Quantbot Technologies LP bought a new position in shares of Coastal Financial during the 3rd quarter valued at approximately $119,000. Finally, USA Financial Formulas bought a new position in shares of Coastal Financial during the 4th quarter valued at approximately $122,000. Institutional investors own 59.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stephens reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Coastal Financial in a research note on Tuesday, March 18th. Raymond James restated a “strong-buy” rating and issued a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th.

Coastal Financial Stock Performance

Shares of Coastal Financial stock opened at $92.03 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 stock’s fifty day moving average is $87.98 and its two-hundred day moving average is $75.36. Coastal Financial Co. has a 52 week low of $37.30 and a 52 week high of $102.25. The company has a market capitalization of $1.38 billion, a PE ratio of 28.32 and a beta of 1.21.

Coastal Financial (NASDAQ:CCB) last posted 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 return on equity of 14.98% and a net margin of 6.43%. As a group, 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.