Coastway Bancorp (CWAY) Rating Lowered to Hold at ValuEngine
Coastway Bancorp (NASDAQ:CWAY) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.
Coastway Bancorp (NASDAQ CWAY) opened at $20.85 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.32 and a debt-to-equity ratio of 2.16. Coastway Bancorp has a fifty-two week low of $14.45 and a fifty-two week high of $21.00.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Seizert Capital Partners LLC increased its holdings in shares of Coastway Bancorp by 4.9% during the 2nd quarter. Seizert Capital Partners LLC now owns 44,564 shares of the bank’s stock valued at $914,000 after acquiring an additional 2,095 shares during the last quarter. Vanguard Group Inc. boosted its stake in Coastway Bancorp by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 84,726 shares of the bank’s stock valued at $1,745,000 after purchasing an additional 4,141 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Coastway Bancorp by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 159,452 shares of the bank’s stock valued at $3,269,000 after purchasing an additional 6,198 shares during the period. Spark Investment Management LLC bought a new stake in Coastway Bancorp during the 2nd quarter valued at approximately $270,000. Finally, Dimensional Fund Advisors LP bought a new stake in Coastway Bancorp during the 3rd quarter valued at approximately $315,000. 35.63% of the stock is currently owned by institutional investors and hedge funds.
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Coastway Bancorp, Inc is a bank holding company for Coastway Community Bank (the Bank), which is a chartered stock savings bank. The Company’s subsidiary, the Bank, provides a range of financial services to individuals, families and businesses throughout Rhode Island from over nine banking offices. The Bank’s principal business consists of retail deposits from the general public in its market area and investing those deposits, together with funds generated from operations and borrowings, in one- to four-family residential real estate loans, other loans, home equity loans and lines of credit, commercial real estate loans, the United States small business administration (SBA) loans, commercial business loans, commercial construction loans and consumer loans.
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