Coastal Financial Corporation $CCB Stock Holdings Lowered by JCSD Capital LLC

JCSD Capital LLC lowered its position in shares of Coastal Financial Corporation (NASDAQ:CCB) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,040 shares of the company’s stock after selling 15,000 shares during the period. Coastal Financial makes up approximately 17.5% of JCSD Capital LLC’s portfolio, making the stock its 2nd largest position. JCSD Capital LLC’s holdings in Coastal Financial were worth $14,787,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its position in Coastal Financial by 13.1% in the 4th quarter. Truist Financial Corp now owns 15,855 shares of the company’s stock valued at $1,817,000 after acquiring an additional 1,840 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Coastal Financial by 24.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,456 shares of the company’s stock worth $281,000 after purchasing an additional 487 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Coastal Financial in the fourth quarter worth $212,000. Quent Capital LLC purchased a new position in shares of Coastal Financial in the fourth quarter worth $2,279,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Coastal Financial by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 784,230 shares of the company’s stock valued at $89,865,000 after purchasing an additional 18,193 shares in the last quarter. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

Coastal Financial Stock Performance

Shares of CCB opened at $69.71 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.04. Coastal Financial Corporation has a one year low of $66.50 and a one year high of $120.05. The firm has a market capitalization of $1.06 billion, a P/E ratio of 21.85 and a beta of 0.76. The business has a fifty day moving average of $77.86 and a 200 day moving average of $94.89.

Coastal Financial (NASDAQ:CCB) last posted its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). The firm had revenue of $56.30 million during the quarter, compared to the consensus estimate of $138.63 million. Coastal Financial had a net margin of 7.35% and a return on equity of 10.20%. As a group, sell-side analysts anticipate that Coastal Financial Corporation will post 4.56 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on CCB shares. TD Cowen dropped their price objective on Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Stephens restated an “overweight” rating and set a $110.00 target price on shares of Coastal Financial in a research note on Friday, May 1st. Zacks Research downgraded shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Keefe, Bruyette & Woods reduced their price target on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Weiss Ratings cut shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.60.

Coastal Financial Profile

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.