Coastal Financial Corporation $CCB Position Lowered by UBS Group AG

UBS Group AG decreased its stake in shares of Coastal Financial Corporation (NASDAQ:CCB) by 26.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,760 shares of the company’s stock after selling 44,425 shares during the period. UBS Group AG’s holdings in Coastal Financial were worth $13,952,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Coastal Financial by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 784,230 shares of the company’s stock worth $89,865,000 after acquiring an additional 18,193 shares during the last quarter. American Century Companies Inc. lifted its holdings in Coastal Financial by 5.9% in the third quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock worth $55,226,000 after acquiring an additional 28,616 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Coastal Financial by 9.0% in the third quarter. Wellington Management Group LLP now owns 486,197 shares of the company’s stock worth $52,592,000 after acquiring an additional 39,984 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Coastal Financial by 364.1% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,764 shares of the company’s stock worth $18,255,000 after acquiring an additional 132,403 shares during the last quarter. Finally, Cooper Creek Partners Management LLC lifted its holdings in Coastal Financial by 108.7% in the third quarter. Cooper Creek Partners Management LLC now owns 162,099 shares of the company’s stock worth $17,534,000 after acquiring an additional 84,438 shares during the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CCB shares. TD Cowen cut their target price on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Keefe, Bruyette & Woods cut their target price on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Wall Street Zen cut shares of Coastal Financial from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings cut shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Finally, Hovde Group cut their target price on shares of Coastal Financial from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.60.

Coastal Financial Stock Performance

CCB opened at $68.22 on Thursday. The business’s 50 day moving average is $78.00 and its 200-day moving average is $95.16. The stock has a market cap of $1.04 billion, a PE ratio of 21.39 and a beta of 0.76. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. Coastal Financial Corporation has a twelve month low of $66.50 and a twelve month high of $120.05.

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

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.