UBS Group AG Decreases Holdings in Coastal Financial Corporation $CCB

UBS Group AG trimmed its holdings in shares of Coastal Financial Corporation (NASDAQ:CCB) by 26.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 121,760 shares of the company’s stock after selling 44,425 shares during the period. UBS Group AG owned 0.81% of Coastal Financial worth $13,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCB. AQR Capital Management LLC boosted its position in Coastal Financial by 3.7% in the 1st quarter. AQR Capital Management LLC now owns 13,102 shares of the company’s stock valued at $1,185,000 after buying an additional 473 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Coastal Financial by 15.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,436 shares of the company’s stock valued at $672,000 after buying an additional 977 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Coastal Financial by 44.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 73,503 shares of the company’s stock valued at $6,645,000 after buying an additional 22,725 shares during the last quarter. Empowered Funds LLC boosted its position in Coastal Financial by 7.3% in the 1st quarter. Empowered Funds LLC now owns 12,439 shares of the company’s stock valued at $1,125,000 after buying an additional 848 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Coastal Financial by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 26,465 shares of the company’s stock valued at $2,393,000 after buying an additional 1,048 shares during the last quarter. 59.24% of the stock is owned by hedge funds and other institutional investors.

Coastal Financial Stock Performance

Shares of CCB stock opened at $68.22 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.06. Coastal Financial Corporation has a one year low of $66.50 and a one year high of $120.05. The company’s 50-day simple moving average is $78.00 and its 200-day simple moving average is $95.16. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 21.39 and a beta of 0.76.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CCB shares. Wall Street Zen cut shares of Coastal Financial from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Hovde Group decreased their price objective on shares of Coastal Financial from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Weiss Ratings cut shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 2nd. Stephens reissued an “overweight” rating and issued a $110.00 price objective on shares of Coastal Financial in a research report on Friday, May 1st. Finally, TD Cowen decreased their price objective on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.