ExodusPoint Capital Management LP Has $4.22 Million Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

ExodusPoint Capital Management LP lifted its stake in Coastal Financial Co. (NASDAQ:CCB) by 480.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,646 shares of the company’s stock after purchasing an additional 41,093 shares during the quarter. ExodusPoint Capital Management LP owned 0.37% of Coastal Financial worth $4,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 60,106 shares in the last quarter. FMR LLC grew its holdings in shares of Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after buying an additional 228 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Coastal Financial by 474.0% during the third quarter. BNP Paribas Financial Markets now owns 25,049 shares of the company’s stock valued at $1,352,000 after buying an additional 20,685 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Coastal Financial by 190.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,081 shares of the company’s stock worth $166,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Coastal Financial during the 3rd quarter worth about $221,000. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Coastal Financial Trading Down 4.5 %

NASDAQ:CCB opened at $79.79 on Monday. The stock’s 50 day moving average price is $88.38 and its 200 day moving average price is $77.29. Coastal Financial Co. has a 52 week low of $37.30 and a 52 week high of $102.25. The company has a market capitalization of $1.20 billion, a P/E ratio of 24.55 and a beta of 1.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James increased their price target on shares of Coastal Financial from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their target price on shares of Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, Stephens restated an “overweight” rating and set a $100.00 price target on shares of Coastal Financial in a report on Tuesday, March 18th.

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.