Alliancebernstein L.P. Has $2.68 Million Holdings in Coastal Financial Co. (NASDAQ:CCB)

Alliancebernstein L.P. reduced its stake in Coastal Financial Co. (NASDAQ:CCB) by 3.8% in the 1st quarter, HoldingsChannel reports. The firm owned 102,197 shares of the company’s stock after selling 4,000 shares during the quarter. Alliancebernstein L.P.’s holdings in Coastal Financial were worth $2,680,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CCB. Wells Fargo & Company MN boosted its stake in Coastal Financial by 2.1% in the fourth quarter. Wells Fargo & Company MN now owns 26,605 shares of the company’s stock valued at $559,000 after acquiring an additional 553 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Coastal Financial by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,860 shares of the company’s stock worth $502,000 after acquiring an additional 1,180 shares during the period. Citigroup Inc. increased its holdings in shares of Coastal Financial by 293.8% in the 4th quarter. Citigroup Inc. now owns 1,721 shares of the company’s stock worth $36,000 after buying an additional 1,284 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Coastal Financial by 4.7% during the 4th quarter. Truist Financial Corp now owns 32,479 shares of the company’s stock valued at $682,000 after purchasing an additional 1,465 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Coastal Financial by 4.4% during the 4th quarter. Panagora Asset Management Inc. now owns 54,019 shares of the company’s stock valued at $1,134,000 after buying an additional 2,264 shares during the period. 51.83% of the stock is owned by hedge funds and other institutional investors.

Shares of Coastal Financial stock opened at $30.25 on Friday. The company has a market cap of $362.76 million, a price-to-earnings ratio of 20.03 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.17 and a current ratio of 1.17. Coastal Financial Co. has a 1 year low of $11.58 and a 1 year high of $33.76. The stock has a 50-day simple moving average of $29.18.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Monday, April 26th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.11. Coastal Financial had a net margin of 24.02% and a return on equity of 13.33%.

Coastal Financial Profile

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small to medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including checking accounts, demand and savings accounts, time deposits, and money market accounts.

Recommended Story: Asset Allocation Models, Which is Right For You?

Want to see what other hedge funds are holding CCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coastal Financial Co. (NASDAQ:CCB).

Institutional Ownership by Quarter for Coastal Financial (NASDAQ:CCB)

Receive News & Ratings for Coastal Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coastal Financial and related companies with MarketBeat.com's FREE daily email newsletter.