4,404 Shares in Coastal Financial Co. (NASDAQ:CCB) Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC purchased a new position in Coastal Financial Co. (NASDAQ:CCB) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,404 shares of the company’s stock, valued at approximately $374,000.

Other hedge funds have also made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in shares of Coastal Financial in the 3rd quarter worth approximately $31,000. New York State Teachers Retirement System bought a new stake in Coastal Financial during the 4th quarter valued at $87,000. FMR LLC raised its stake in Coastal Financial by 21.0% during 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 in the last quarter. USA Financial Formulas bought a new stake in Coastal Financial during the 4th quarter valued at $122,000. Finally, Quantbot Technologies LP bought a new stake in Coastal Financial during the 3rd quarter valued at $119,000. Institutional investors own 59.24% of the company’s stock.

Analysts Set New Price Targets

CCB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Raymond James reaffirmed a “strong-buy” rating and set a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th. Finally, Stephens reaffirmed an “overweight” rating and set a $100.00 target price on shares of Coastal Financial in a research note on Thursday, February 13th.

Coastal Financial Trading Down 1.9 %

Shares of Coastal Financial stock opened at $81.40 on Tuesday. Coastal Financial Co. has a fifty-two week low of $35.67 and a fifty-two week high of $102.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $87.60 and a 200-day simple moving average of $72.66. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 25.05 and a beta of 1.21.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings data 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 return on equity of 14.98% and a net margin of 6.43%. On average, equities analysts forecast that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

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.