Coastal Financial Corporation $CCB Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its stake in Coastal Financial Corporation (NASDAQ:CCB) by 7.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 359,571 shares of the company’s stock after buying an additional 25,424 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Coastal Financial were worth $27,361,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CCB. EverSource Wealth Advisors LLC increased its stake in Coastal Financial by 129.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock worth $34,000 after buying an additional 169 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Coastal Financial in the fourth quarter valued at approximately $50,000. Smartleaf Asset Management LLC lifted its position in shares of Coastal Financial by 20,700.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $72,000 after acquiring an additional 621 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Coastal Financial by 229.5% in the second quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock worth $80,000 after acquiring an additional 576 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Coastal Financial by 521.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock worth $122,000 after purchasing an additional 1,059 shares in the last quarter. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods decreased their price objective on Coastal Financial from $95.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coastal Financial in a report on Monday, June 29th. Stephens reiterated an “overweight” rating and issued a $110.00 target price on shares of Coastal Financial in a research report on Friday, May 1st. TD Cowen decreased their price target on shares of Coastal Financial from $110.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Coastal Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.33.

Coastal Financial Price Performance

CCB stock opened at $44.15 on Thursday. The business has a fifty day moving average of $71.31 and a two-hundred day moving average of $78.28. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. The stock has a market cap of $673.29 million, a price-to-earnings ratio of -157.67 and a beta of 0.76. Coastal Financial Corporation has a 52-week low of $36.61 and a 52-week high of $120.05.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings results on Thursday, July 30th. The company reported ($2.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($3.77). Coastal Financial had a negative net margin of 0.53% and a negative return on equity of 0.79%. The company had revenue of $60.37 million during the quarter, compared to analysts’ expectations of $148.50 million. As a group, research analysts anticipate that Coastal Financial Corporation will post 1.26 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.