GW&K Investment Management LLC Purchases 12,426 Shares of Coastal Financial Corporation $CCB

GW&K Investment Management LLC lifted its position in Coastal Financial Corporation (NASDAQ:CCB) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,829 shares of the company’s stock after purchasing an additional 12,426 shares during the quarter. GW&K Investment Management LLC owned about 1.31% of Coastal Financial worth $22,669,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quent Capital LLC bought a new stake in shares of Coastal Financial in the fourth quarter worth about $2,279,000. American Century Companies Inc. increased its stake in Coastal Financial by 5.9% during the third quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock worth $55,226,000 after acquiring an additional 28,616 shares during the last quarter. Phocas Financial Corp. bought a new stake in Coastal Financial during the fourth quarter worth approximately $3,948,000. Vanguard Group Inc. increased its stake in Coastal Financial by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 784,230 shares of the company’s stock worth $89,865,000 after acquiring an additional 18,193 shares during the last quarter. Finally, Legato Capital Management LLC bought a new stake in Coastal Financial during the third quarter worth approximately $876,000. 59.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CCB shares. TD Cowen reduced their price objective on Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Wall Street Zen raised Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings cut Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Zacks Research cut Coastal Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Finally, Keefe, Bruyette & Woods reduced their price objective on Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.60.

Coastal Financial Stock Down 0.6%

Shares of NASDAQ:CCB opened at $71.32 on Thursday. Coastal Financial Corporation has a 1 year low of $66.50 and a 1 year high of $120.05. The business has a 50 day simple moving average of $75.44 and a two-hundred day simple moving average of $90.22. The firm has a market capitalization of $1.09 billion, a PE ratio of 22.36 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03.

Coastal Financial (NASDAQ:CCB) last announced its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.24). Coastal Financial had a net margin of 7.35% and a return on equity of 10.20%. The business had revenue of $56.30 million for the quarter, compared to analysts’ expectations of $138.63 million. On average, equities analysts predict that Coastal Financial Corporation will post 4.56 EPS for the current year.

About Coastal Financial

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.