Coastal Financial Co. (NASDAQ:CCB) is Cox Capital Mgt LLC’s 10th Largest Position

Cox Capital Mgt LLC increased its position in shares of Coastal Financial Co. (NASDAQ:CCB) by 44.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,614 shares of the company’s stock after purchasing an additional 14,905 shares during the period. Coastal Financial accounts for 2.7% of Cox Capital Mgt LLC’s portfolio, making the stock its 10th largest holding. Cox Capital Mgt LLC owned 0.36% of Coastal Financial worth $4,128,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CCB. Principal Financial Group Inc. purchased a new stake in Coastal Financial during the 3rd quarter valued at approximately $377,000. Barclays PLC grew its stake in Coastal Financial by 60.0% during the third quarter. Barclays PLC now owns 31,804 shares of the company’s stock valued at $1,719,000 after acquiring an additional 11,922 shares in the last quarter. PDT Partners LLC bought a new stake in Coastal Financial in the 3rd quarter valued at $650,000. 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 worth $4,967,000 after purchasing an additional 60,106 shares in the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. boosted its holdings in shares of Coastal Financial by 214.0% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 30,116 shares of the company’s stock valued at $1,626,000 after purchasing an additional 20,525 shares during the last quarter. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Coastal Financial Trading Up 4.4 %

Shares of NASDAQ CCB opened at $84.93 on Wednesday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 28.60 and a beta of 1.22. Coastal Financial Co. has a 1-year low of $35.67 and a 1-year high of $87.12. The business’s 50 day moving average is $78.43 and its two-hundred day moving average is $61.49. 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 (NASDAQ:CCB) last released its earnings results on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $185.15 million for the quarter, compared to the consensus estimate of $154.30 million. Coastal Financial had a return on equity of 13.86% and a net margin of 5.98%. As a group, research analysts expect that Coastal Financial Co. will post 3.55 EPS for the current year.

Insider Activity

In other news, EVP Jonathan E. Sand sold 1,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 19,611 shares in the company, valued at approximately $1,454,155.65. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric M. Sprink sold 3,705 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $60.01, for a total value of $222,337.05. Following the sale, the chief executive officer now directly owns 275,683 shares of the company’s stock, valued at $16,543,736.83. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,346 shares of company stock valued at $1,473,096. 16.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.