GW&K Investment Management LLC Increases Holdings in Coastal Financial Corporation $CCB

GW&K Investment Management LLC lifted its position in Coastal Financial Corporation (NASDAQ:CCB) by 6.7% in the fourth quarter, Holdings Channel reports. The firm owned 197,829 shares of the company’s stock after buying an additional 12,426 shares during the period. GW&K Investment Management LLC’s holdings in Coastal Financial were worth $22,669,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CCB. EverSource Wealth Advisors LLC boosted its holdings in shares of Coastal Financial by 129.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock valued at $34,000 after purchasing an additional 169 shares during the period. Russell Investments Group Ltd. boosted its holdings 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 valued at $80,000 after purchasing an additional 576 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Coastal Financial by 521.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock valued at $122,000 after purchasing an additional 1,059 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Coastal Financial in the fourth quarter valued at approximately $212,000. Finally, Brooklyn Investment Group boosted its holdings in shares of Coastal Financial by 28.0% in the third quarter. Brooklyn Investment Group now owns 2,063 shares of the company’s stock valued at $223,000 after purchasing an additional 451 shares during the period. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Coastal Financial Stock Down 0.6%

Coastal Financial stock opened at $71.32 on Thursday. The business has a fifty day moving average of $75.44 and a two-hundred day moving average of $90.22. 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 firm has a market cap of $1.09 billion, a P/E ratio of 22.36 and a beta of 0.72. Coastal Financial Corporation has a twelve month low of $66.50 and a twelve month high of $120.05.

Coastal Financial (NASDAQ:CCB) last posted its 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 company had revenue of $56.30 million for the quarter, compared to analysts’ expectations of $138.63 million. Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%. On average, analysts forecast that Coastal Financial Corporation will post 4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CCB shares. Keefe, Bruyette & Woods lowered their price target on Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Wall Street Zen upgraded Coastal Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Stephens reiterated an “overweight” rating and issued a $110.00 price target on shares of Coastal Financial in a report on Friday, May 1st. Zacks Research lowered Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Finally, TD Cowen lowered their price target on Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $122.60.

Coastal Financial Company 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.