American Century Companies Inc. Has $55.23 Million Stake in Coastal Financial Corporation $CCB

American Century Companies Inc. lifted its holdings in Coastal Financial Corporation (NASDAQ:CCB) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 510,549 shares of the company’s stock after acquiring an additional 28,616 shares during the quarter. American Century Companies Inc. owned approximately 3.38% of Coastal Financial worth $55,226,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Coastal Financial by 2.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,644 shares of the company’s stock valued at $644,000 after purchasing an additional 149 shares during the last quarter. EJF Capital LLC grew its holdings in shares of Coastal Financial by 2.5% during the second quarter. EJF Capital LLC now owns 13,547 shares of the company’s stock worth $1,312,000 after purchasing an additional 329 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Coastal Financial by 3.7% in the first quarter. AQR Capital Management LLC now owns 13,102 shares of the company’s stock valued at $1,185,000 after buying an additional 473 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Coastal Financial by 229.5% in the second quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock valued at $80,000 after buying an additional 576 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Coastal Financial during the 3rd quarter worth about $64,000. 59.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CCB has been the subject of several research reports. Weiss Ratings cut shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Zacks Research cut shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Keefe, Bruyette & Woods lowered their price target on shares of Coastal Financial from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. UBS Group set a $155.00 price objective on shares of Coastal Financial in a research report on Friday, December 5th. Finally, Hovde Group decreased their price objective on Coastal Financial from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.00.

Coastal Financial Stock Up 3.4%

Shares of Coastal Financial stock opened at $79.15 on Friday. The business has a fifty day simple moving average of $98.20 and a 200 day simple moving average of $105.83. The stock has a market cap of $1.20 billion, a PE ratio of 26.04 and a beta of 0.86. 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 12 month low of $70.72 and a 12 month high of $120.05.

Coastal Financial (NASDAQ:CCB) last issued its earnings results on Thursday, January 29th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.34). The company had revenue of $56.49 million for the quarter, compared to the consensus estimate of $140.81 million. Coastal Financial had a return on equity of 10.01% and a net margin of 7.11%. Research analysts predict that Coastal Financial Corporation will post 4.59 EPS for the current year.

Insider Activity at Coastal Financial

In other news, Director Steven D. Hovde sold 3,000 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $114.00, for a total value of $342,000.00. Following the completion of the transaction, the director owned 16,000 shares of the company’s stock, valued at $1,824,000. The trade was a 15.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric M. Sprink sold 8,778 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $114.95, for a total transaction of $1,009,031.10. Following the completion of the sale, the chief executive officer owned 193,884 shares of the company’s stock, valued at approximately $22,286,965.80. This represents a 4.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,685 shares of company stock worth $6,994,817 in the last three months. 14.10% of the stock is owned by insiders.

About Coastal Financial

Coastal Financial Corporation is a bank holding company whose principal subsidiary, Coastal Community Bank, provides a full range of community banking services to clients along North Carolina’s central and eastern coastline. The company focuses on delivering personalized relationship banking to individuals, small businesses, and local professionals in seaside and inland communities.

Through Coastal Community Bank, Coastal Financial offers deposit products including checking, savings, money market accounts and certificates of deposit.