Elizabeth Park Capital Advisors Ltd. Takes Position in Coastal Financial Co. (NASDAQ:CCB)

Elizabeth Park Capital Advisors Ltd. purchased a new position in Coastal Financial Co. (NASDAQ:CCB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 36,555 shares of the company’s stock, valued at approximately $3,104,000. Coastal Financial makes up 2.5% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 16th largest position. Elizabeth Park Capital Advisors Ltd. owned approximately 0.27% of Coastal Financial as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of Coastal Financial during the 3rd quarter valued at approximately $31,000. Meeder Asset Management Inc. purchased a new stake in shares of Coastal Financial in the fourth quarter valued at $64,000. FMR LLC lifted its holdings in shares of Coastal Financial by 21.0% in the 3rd quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after acquiring an additional 228 shares during the last quarter. New York State Teachers Retirement System bought a new position in Coastal Financial during the 4th quarter valued at about $87,000. Finally, Quantbot Technologies LP purchased a new stake in Coastal Financial in the 3rd quarter worth about $119,000. 59.24% of the stock is owned by institutional investors.

Coastal Financial Trading Down 4.5 %

Coastal Financial stock opened at $79.79 on Friday. Coastal Financial Co. has a 52 week low of $37.30 and a 52 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 company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 24.55 and a beta of 1.00. The stock has a 50-day moving average price of $88.38 and a 200 day moving average price of $77.11.

Coastal Financial (NASDAQ:CCB) last posted its quarterly 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 net margin of 6.43% and a return on equity of 14.98%. Sell-side analysts anticipate that Coastal Financial Co. will post 4.59 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on CCB. Stephens reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Coastal Financial in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods boosted their price target on shares of Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Finally, Raymond James lifted their price target on Coastal Financial from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Wednesday.

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.