Coastal Financial Co. (NASDAQ:CCB) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lessened its stake in shares of Coastal Financial Co. (NASDAQ:CCB) by 2.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 82,347 shares of the company’s stock after selling 2,166 shares during the period. Orion Portfolio Solutions LLC’s holdings in Coastal Financial were worth $6,992,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Victory Capital Management Inc. acquired a new position in shares of Coastal Financial in the third quarter valued at approximately $296,000. Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 60,106 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Coastal Financial during the 3rd quarter worth $119,000. FMR LLC boosted its holdings in shares of Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after purchasing an additional 228 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Coastal Financial by 474.0% in the third quarter. BNP Paribas Financial Markets now owns 25,049 shares of the company’s stock valued at $1,352,000 after purchasing an additional 20,685 shares during the period. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Stephens reiterated an “overweight” rating and set a $100.00 price objective on shares of Coastal Financial in a report on Tuesday, March 18th. Finally, Raymond James restated a “strong-buy” rating and issued a $100.00 target price (up from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th.

Coastal Financial Stock Performance

Shares of NASDAQ:CCB opened at $90.39 on Friday. The firm has a market capitalization of $1.36 billion, a PE ratio of 27.81 and a beta of 1.21. Coastal Financial Co. has a 12 month low of $37.30 and a 12 month high of $102.25. 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 business has a 50-day moving average of $88.10 and a two-hundred day moving average of $75.82.

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

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.