Intrust Bank NA Has $1.16 Million Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

Intrust Bank NA decreased its position in Coastal Financial Co. (NASDAQ:CCB) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,681 shares of the company’s stock after selling 434 shares during the period. Intrust Bank NA owned 0.10% of Coastal Financial worth $1,162,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new stake in Coastal Financial during the 3rd quarter worth $296,000. Charles Schwab Investment Management Inc. grew its position in shares of Coastal Financial by 188.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company’s stock worth $4,967,000 after buying an additional 60,106 shares during the period. Quantbot Technologies LP bought a new stake in shares of Coastal Financial in the 3rd quarter valued at about $119,000. FMR LLC increased its stake in shares of Coastal Financial by 21.0% in the 3rd quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after acquiring an additional 228 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Coastal Financial by 474.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 25,049 shares of the company’s stock valued at $1,352,000 after acquiring an additional 20,685 shares during the period. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CCB. Raymond James reaffirmed a “strong-buy” rating and issued a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th. Stephens restated an “overweight” rating and issued a $100.00 price objective on shares of Coastal Financial in a research report on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods lifted their target price on Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th.

Coastal Financial Trading Down 1.8 %

Shares of NASDAQ:CCB opened at $90.39 on Friday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 27.81 and a beta of 1.21. Coastal Financial Co. has a 12 month low of $37.30 and a 12 month high of $102.25. The company’s fifty day simple moving average is $88.10 and its 200 day simple moving average is $75.82. 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 (NASDAQ:CCB) last released 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%. As a group, research analysts forecast that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

Coastal Financial Company 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.