Pacific Ridge Capital Partners LLC Grows Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

Pacific Ridge Capital Partners LLC lifted its position in Coastal Financial Co. (NASDAQ:CCB) by 54.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,911 shares of the company’s stock after purchasing an additional 7,356 shares during the quarter. Pacific Ridge Capital Partners LLC owned 0.15% of Coastal Financial worth $1,776,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Royce & Associates LP boosted its stake in Coastal Financial by 795.5% in the fourth quarter. Royce & Associates LP now owns 89,554 shares of the company’s stock worth $7,604,000 after buying an additional 79,554 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Coastal Financial by 11.4% in the 4th quarter. Vanguard Group Inc. now owns 685,385 shares of the company’s stock worth $58,196,000 after acquiring an additional 70,272 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coastal Financial by 188.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company’s stock worth $4,967,000 after acquiring an additional 60,106 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Coastal Financial in the 3rd quarter valued at $2,034,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Coastal Financial by 40.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company’s stock valued at $6,321,000 after purchasing an additional 33,964 shares during the last quarter. 59.24% of the stock is currently owned by institutional investors.

Coastal Financial Price Performance

Shares of Coastal Financial stock opened at $86.41 on Thursday. The firm has a market cap of $1.30 billion, a PE ratio of 26.59 and a beta of 1.21. The company’s fifty day simple moving average is $87.83 and its two-hundred day simple moving average is $75.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial Co. has a 12-month low of $36.95 and a 12-month high of $102.25.

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%. As a group, equities analysts expect that Coastal Financial Co. will post 4.59 EPS for the current year.

Analyst Upgrades and Downgrades

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