Kennedy Capital Management LLC Acquires 26,914 Shares of Coastal Financial Corporation $CCB

Kennedy Capital Management LLC raised its holdings in Coastal Financial Corporation (NASDAQ:CCB) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 168,825 shares of the company’s stock after acquiring an additional 26,914 shares during the quarter. Kennedy Capital Management LLC’s holdings in Coastal Financial were worth $19,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCB. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Coastal Financial by 364.1% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,764 shares of the company’s stock worth $18,255,000 after purchasing an additional 132,403 shares in the last quarter. UBS Group AG boosted its position in shares of Coastal Financial by 158.7% during the third quarter. UBS Group AG now owns 166,185 shares of the company’s stock worth $17,976,000 after purchasing an additional 101,935 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Coastal Financial by 43.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 330,230 shares of the company’s stock worth $37,841,000 after purchasing an additional 100,661 shares in the last quarter. Cooper Creek Partners Management LLC boosted its position in shares of Coastal Financial by 108.7% during the third quarter. Cooper Creek Partners Management LLC now owns 162,099 shares of the company’s stock worth $17,534,000 after purchasing an additional 84,438 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Coastal Financial during the fourth quarter worth $8,386,000. 59.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CCB shares. Zacks Research cut shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Stephens reissued an “overweight” rating and set a $110.00 price target on shares of Coastal Financial in a research report on Friday, May 1st. TD Cowen reduced their price target on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Weiss Ratings cut shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 2nd. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Coastal Financial has an average rating of “Moderate Buy” and a consensus price target of $122.60.

Coastal Financial Stock Up 2.1%

Shares of CCB stock opened at $73.53 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.10. Coastal Financial Corporation has a 1 year low of $66.50 and a 1 year high of $120.05. The firm’s fifty day moving average price is $75.29 and its two-hundred day moving average price is $89.89. The firm has a market capitalization of $1.12 billion, a P/E ratio of 23.05 and a beta of 0.72.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.24). The firm had revenue of $56.30 million for the quarter, compared to analyst estimates of $138.63 million. Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%. On average, equities analysts predict that Coastal Financial Corporation will post 4.56 EPS for the current fiscal year.

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.