Coastal Financial Co. (NASDAQ:CCB) Short Interest Update

Coastal Financial Co. (NASDAQ:CCB) saw a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 393,100 shares, a decline of 12.6% from the January 31st total of 449,700 shares. Based on an average daily volume of 116,600 shares, the short-interest ratio is presently 3.4 days.

Coastal Financial Price Performance

Shares of CCB opened at $87.11 on Friday. Coastal Financial has a 1-year low of $35.67 and a 1-year high of $102.25. The stock has a market cap of $1.18 billion, a PE ratio of 26.80 and a beta of 1.21. The firm has a 50-day simple moving average of $87.70 and a two-hundred day simple moving average of $71.90. 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 (NASDAQ:CCB) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 earnings per share 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, analysts forecast that Coastal Financial will post 4.59 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. grew its holdings in shares of Coastal Financial by 47.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,322,325 shares of the company’s stock valued at $112,279,000 after purchasing an additional 423,864 shares in the last quarter. Vanguard Group Inc. grew its holdings in Coastal Financial by 11.4% during 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 in the last quarter. Wellington Management Group LLP grew its holdings in Coastal Financial by 1,067.9% during the 4th quarter. Wellington Management Group LLP now owns 456,887 shares of the company’s stock worth $38,794,000 after acquiring an additional 417,767 shares in the last quarter. Azora Capital LP acquired a new position in Coastal Financial during the 4th quarter worth approximately $33,794,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Coastal Financial by 9.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 385,433 shares of the company’s stock worth $32,727,000 after acquiring an additional 33,980 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

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.