Orion Portfolio Solutions LLC Trims Stake in Coastal Financial Co. (NASDAQ:CCB)

Orion Portfolio Solutions LLC lessened its position in shares of Coastal Financial Co. (NASDAQ:CCB) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,347 shares of the company’s stock after selling 2,166 shares during the quarter. Orion Portfolio Solutions LLC owned about 0.61% of Coastal Financial worth $6,992,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Coastal Financial by 60.0% during the third quarter. Barclays PLC now owns 31,804 shares of the company’s stock worth $1,719,000 after buying an additional 11,922 shares during the period. PDT Partners LLC acquired a new stake in Coastal Financial during the 3rd quarter worth approximately $650,000. Charles Schwab Investment Management Inc. grew its stake 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 valued at $4,967,000 after purchasing an additional 60,106 shares during the last quarter. State Street Corp increased its holdings in shares of Coastal Financial by 2.4% in the third quarter. State Street Corp now owns 314,274 shares of the company’s stock valued at $16,968,000 after purchasing an additional 7,386 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in shares of Coastal Financial during the third quarter worth approximately $377,000. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Stock Down 1.8 %

CCB stock opened at $90.39 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $88.10 and its 200 day moving average price is $75.82. Coastal Financial Co. has a 52 week low of $37.30 and a 52 week high of $102.25. The company has a market cap of $1.36 billion, a P/E ratio of 27.81 and a beta of 1.21.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. On average, research analysts expect that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CCB has been the subject of a number of analyst reports. Raymond James restated a “strong-buy” rating and set a $100.00 price objective (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Stephens restated an “overweight” rating and issued a $100.00 price objective on shares of Coastal Financial in a research report on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods boosted their target price on Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th.

Coastal Financial 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.