Coastal Financial Co. (NASDAQ:CCB) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its stake in shares of Coastal Financial Co. (NASDAQ:CCB) by 17.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,761 shares of the company’s stock after selling 4,288 shares during the quarter. BNP Paribas Financial Markets owned about 0.15% of Coastal Financial worth $1,763,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in Coastal Financial by 179.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock valued at $61,000 after buying an additional 461 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Coastal Financial in the fourth quarter valued at $64,000. New York State Teachers Retirement System purchased a new stake in shares of Coastal Financial in the fourth quarter valued at $87,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Coastal Financial in the fourth quarter valued at $178,000. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of Coastal Financial in the fourth quarter valued at $214,000. Institutional investors and hedge funds own 59.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CCB shares. Raymond James lowered their price objective on Coastal Financial from $105.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods lowered their price objective on Coastal Financial from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Stephens reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Coastal Financial in a research report on Tuesday, March 18th. Finally, Hovde Group lowered their price objective on Coastal Financial from $120.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th.

Insider Buying and Selling at Coastal Financial

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $79.07, for a total transaction of $126,512.00. Following the transaction, the director now owns 14,006 shares in the company, valued at $1,107,454.42. The trade was a 10.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.82% of the stock is owned by company insiders.

Coastal Financial Price Performance

CCB stock opened at $89.00 on Friday. The stock has a 50-day moving average price of $84.55 and a two-hundred day moving average price of $83.08. Coastal Financial Co. has a 12-month low of $42.64 and a 12-month high of $102.25. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.34 billion, a PE ratio of 27.38 and a beta of 0.94.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.30). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. The firm had revenue of $139.54 million for the quarter, compared to analysts’ expectations of $158.65 million. As a group, research analysts predict that Coastal Financial Co. will post 4.59 EPS 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.