Los Angeles Capital Management LLC Has $2.45 Million Position in Coastal Financial Co. (NASDAQ:CCB)

Los Angeles Capital Management LLC decreased its position in Coastal Financial Co. (NASDAQ:CCB) by 49.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,837 shares of the company’s stock after selling 28,520 shares during the period. Los Angeles Capital Management LLC’s holdings in Coastal Financial were worth $2,449,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of 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 purchasing an additional 60,106 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in Coastal Financial in the 3rd quarter valued at approximately $2,034,000. JPMorgan Chase & Co. boosted its position in Coastal Financial by 40.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company’s stock worth $6,321,000 after acquiring an additional 33,964 shares during the last quarter. Stieven Capital Advisors L.P. grew its stake in shares of Coastal Financial by 37.9% during the 4th quarter. Stieven Capital Advisors L.P. now owns 102,213 shares of the company’s stock worth $8,679,000 after acquiring an additional 28,100 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Coastal Financial by 474.0% in the third quarter. BNP Paribas Financial Markets now owns 25,049 shares of the company’s stock valued at $1,352,000 after purchasing an additional 20,685 shares during the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CCB. Raymond James restated a “strong-buy” rating and set a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price target 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, Stephens reaffirmed an “overweight” rating and set a $100.00 price target on shares of Coastal Financial in a research report on Thursday, February 13th.

Coastal Financial Price Performance

NASDAQ:CCB opened at $96.68 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. Coastal Financial Co. has a 12-month low of $35.67 and a 12-month high of $97.55. The stock’s 50 day moving average price is $86.57 and its two-hundred day moving average price is $70.30. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 29.75 and a beta of 1.23.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. On average, analysts anticipate that Coastal Financial Co. will post 4.59 earnings per share for the current year.

About Coastal Financial

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.