Kennedy Capital Management LLC Has $10.70 Million Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

Kennedy Capital Management LLC increased its position in shares of Coastal Financial Co. (NASDAQ:CCB) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 275,383 shares of the company’s stock after acquiring an additional 8,230 shares during the quarter. Kennedy Capital Management LLC’s holdings in Coastal Financial were worth $10,704,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CCB. Diversify Advisory Services LLC acquired a new position in Coastal Financial in the first quarter valued at about $714,000. Vanguard Group Inc. lifted its stake in Coastal Financial by 1.6% in the third quarter. Vanguard Group Inc. now owns 577,945 shares of the company’s stock valued at $24,800,000 after buying an additional 9,244 shares during the period. Norden Group LLC acquired a new position in Coastal Financial in the first quarter valued at about $1,488,000. SG Americas Securities LLC lifted its stake in Coastal Financial by 59.8% in the fourth quarter. SG Americas Securities LLC now owns 3,978 shares of the company’s stock valued at $177,000 after buying an additional 1,489 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Coastal Financial by 18.0% in the first quarter. BNP Paribas Financial Markets now owns 11,572 shares of the company’s stock valued at $450,000 after buying an additional 1,766 shares during the period. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Stock Up 0.5 %

Shares of NASDAQ CCB traded up $0.28 during mid-day trading on Tuesday, reaching $52.97. 92,407 shares of the company’s stock were exchanged, compared to its average volume of 55,586. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $710.80 million, a price-to-earnings ratio of 18.42 and a beta of 1.25. Coastal Financial Co. has a twelve month low of $35.67 and a twelve month high of $53.15. The business has a fifty day simple moving average of $46.14 and a 200 day simple moving average of $41.94.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $167.41 million during the quarter, compared to the consensus estimate of $168.30 million. Coastal Financial had a return on equity of 14.31% and a net margin of 6.55%. As a group, equities analysts expect that Coastal Financial Co. will post 3.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Hovde Group raised their price target on Coastal Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday.

Insiders Place Their Bets

In other Coastal Financial news, CFO Joel G. Edwards sold 1,034 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $44.45, for a total transaction of $45,961.30. Following the transaction, the chief financial officer now owns 56,369 shares of the company’s stock, valued at approximately $2,505,602.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.82% of the company’s stock.

Coastal Financial Company Profile

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.