Coastal Financial Corporation $CCB Shares Bought by Jacobs Asset Management LLC

Jacobs Asset Management LLC lifted its holdings in Coastal Financial Corporation (NASDAQ:CCB) by 17.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,449 shares of the company’s stock after acquiring an additional 13,449 shares during the period. Coastal Financial makes up 5.6% of Jacobs Asset Management LLC’s portfolio, making the stock its 4th biggest position. Jacobs Asset Management LLC owned about 0.58% of Coastal Financial worth $10,135,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CCB. JPMorgan Chase & Co. grew its holdings in Coastal Financial by 2.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,644 shares of the company’s stock valued at $644,000 after purchasing an additional 149 shares in the last quarter. ProShare Advisors LLC grew its holdings in Coastal Financial by 7.0% during the 4th quarter. ProShare Advisors LLC now owns 2,360 shares of the company’s stock valued at $270,000 after purchasing an additional 155 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Coastal Financial by 129.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock valued at $34,000 after purchasing an additional 169 shares in the last quarter. Swiss National Bank grew its holdings in Coastal Financial by 0.8% during the 3rd quarter. Swiss National Bank now owns 26,165 shares of the company’s stock valued at $2,830,000 after purchasing an additional 200 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Coastal Financial by 3.0% during the 3rd quarter. Legal & General Group Plc now owns 14,574 shares of the company’s stock valued at $1,576,000 after purchasing an additional 425 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Trading Up 2.1%

Coastal Financial stock opened at $73.53 on Friday. The firm’s 50-day moving average is $75.29 and its 200-day moving average is $89.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.03 and a current ratio of 1.06. Coastal Financial Corporation has a 1 year low of $66.50 and a 1 year high of $120.05. The company has a market cap of $1.12 billion, a P/E ratio of 23.05 and a beta of 0.72.

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

Analyst Upgrades and Downgrades

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