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

Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Coastal Financial Co. (NASDAQ:CCB) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 36,555 shares of the company’s stock, valued at approximately $3,104,000. Coastal Financial comprises approximately 2.5% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 16th biggest holding.

Several other large investors also recently bought and sold shares of the business. Barclays PLC boosted its position in shares of Coastal Financial by 60.0% during the 3rd quarter. Barclays PLC now owns 31,804 shares of the company’s stock valued at $1,719,000 after acquiring an additional 11,922 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Coastal Financial by 188.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company’s stock valued at $4,967,000 after buying an additional 60,106 shares during the period. State Street Corp grew its stake in shares of Coastal Financial by 2.4% in the 3rd quarter. State Street Corp now owns 314,274 shares of the company’s stock valued at $16,968,000 after buying an additional 7,386 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Coastal Financial during the 3rd quarter valued at approximately $377,000. Finally, JPMorgan Chase & Co. lifted its holdings in Coastal Financial by 40.9% in the third quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company’s stock valued at $6,321,000 after acquiring an additional 33,964 shares during the last quarter. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Coastal Financial Stock Performance

Shares of Coastal Financial stock opened at $79.79 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 24.55 and a beta of 1.00. The business has a 50-day moving average of $88.38 and a 200 day moving average of $77.11. Coastal Financial Co. has a 12 month low of $37.30 and a 12 month high of $102.25.

Coastal Financial (NASDAQ:CCB) last announced its earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. As a group, sell-side analysts forecast that Coastal Financial Co. will post 4.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CCB shares. Raymond James lifted their target price on Coastal Financial from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their target price on shares of Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, Stephens reiterated an “overweight” rating and set a $100.00 price target on shares of Coastal Financial in a research report on Tuesday, March 18th.

About Coastal Financial

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.