Invesco Ltd. Has $7.81 Million Position in Coastal Financial Corporation $CCB

Invesco Ltd. increased its holdings in shares of Coastal Financial Corporation (NASDAQ:CCB) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,376 shares of the company’s stock after acquiring an additional 8,065 shares during the quarter. Invesco Ltd. owned about 0.58% of Coastal Financial worth $7,809,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. First Trust Advisors LP increased its holdings in shares of Coastal Financial by 1.9% during the 4th quarter. First Trust Advisors LP now owns 8,297 shares of the company’s stock worth $704,000 after acquiring an additional 156 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in Coastal Financial by 0.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 17,138 shares of the company’s stock valued at $1,549,000 after buying an additional 161 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Coastal Financial by 5.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,459 shares of the company’s stock valued at $548,000 after buying an additional 343 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Coastal Financial by 179.4% in 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 in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in Coastal Financial by 2.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 18,091 shares of the company’s stock valued at $1,536,000 after buying an additional 507 shares in the last quarter. 59.24% of the stock is owned by institutional investors and hedge funds.

Coastal Financial Price Performance

Shares of CCB stock opened at $112.40 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. Coastal Financial Corporation has a twelve month low of $47.90 and a twelve month high of $114.36. The company has a market cap of $1.70 billion, a P/E ratio of 34.58 and a beta of 1.01. The business has a fifty day simple moving average of $99.36 and a 200 day simple moving average of $91.01.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.16). Coastal Financial had a return on equity of 11.31% and a net margin of 7.02%.The business had revenue of $119.43 million for the quarter, compared to the consensus estimate of $158.05 million. On average, sell-side analysts forecast that Coastal Financial Corporation will post 4.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on CCB. Raymond James Financial decreased their price objective on Coastal Financial from $105.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 30th. Hovde Group set a $126.00 price objective on Coastal Financial in a report on Monday, August 18th. Finally, Keefe, Bruyette & Woods upped their price objective on Coastal Financial from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $110.25.

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.