Norden Group LLC Purchases Shares of 3,762 Coastal Financial Co. (NASDAQ:CCB)

Norden Group LLC acquired a new position in Coastal Financial Co. (NASDAQ:CCB) during the 4th quarter, Holdings Channel reports. The firm acquired 3,762 shares of the company’s stock, valued at approximately $319,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Planning bought a new stake in Coastal Financial during the third quarter valued at about $298,000. Principal Financial Group Inc. bought a new position in shares of Coastal Financial during the 3rd quarter valued at approximately $377,000. Portside Wealth Group LLC increased its holdings in Coastal Financial by 3.7% in the 3rd quarter. Portside Wealth Group LLC now owns 4,669 shares of the company’s stock worth $252,000 after acquiring an additional 166 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Coastal Financial by 79.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 57,357 shares of the company’s stock worth $3,097,000 after acquiring an additional 25,482 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in Coastal Financial by 7.8% during the third quarter. GSA Capital Partners LLP now owns 11,850 shares of the company’s stock valued at $640,000 after purchasing an additional 857 shares in the last quarter. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Coastal Financial Trading Down 7.8 %

Shares of CCB opened at $92.81 on Wednesday. The firm has a market cap of $1.26 billion, a P/E ratio of 28.56 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. Coastal Financial Co. has a 1 year low of $35.67 and a 1 year high of $102.25. The company has a 50 day simple moving average of $87.50 and a two-hundred day simple moving average of $71.66.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share (EPS) 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%. On average, equities analysts expect that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCB. Keefe, Bruyette & Woods increased their price objective on shares of Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a research note on Tuesday. Stephens reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Coastal Financial in a report on Thursday, February 13th. Finally, Raymond James reissued a “strong-buy” rating and set a $100.00 price target (up from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th.

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.