Next Century Growth Investors LLC Has $20.42 Million Stake in Coastal Financial Corporation $CCB

Next Century Growth Investors LLC increased its position in Coastal Financial Corporation (NASDAQ:CCB) by 130.0% in the fourth quarter, HoldingsChannel reports. The firm owned 178,224 shares of the company’s stock after acquiring an additional 100,731 shares during the period. Coastal Financial accounts for about 1.4% of Next Century Growth Investors LLC’s investment portfolio, making the stock its 23rd biggest holding. Next Century Growth Investors LLC’s holdings in Coastal Financial were worth $20,423,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCB. EverSource Wealth Advisors LLC lifted its position in Coastal Financial by 129.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock worth $34,000 after buying an additional 169 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Coastal Financial by 20,700.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $72,000 after buying an additional 621 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Coastal Financial by 229.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock valued at $80,000 after buying an additional 576 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Coastal Financial by 521.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock valued at $122,000 after buying an additional 1,059 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Coastal Financial during the 4th quarter valued at $212,000. 59.24% of the stock is owned by hedge funds and other institutional investors.

Coastal Financial Stock Performance

Shares of CCB opened at $73.53 on Friday. The company has a market capitalization of $1.12 billion, a PE ratio of 23.05 and a beta of 0.72. Coastal Financial Corporation has a one year low of $66.50 and a one year high of $120.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03. The company’s fifty day moving average price is $75.29 and its 200 day moving average price is $89.89.

Coastal Financial (NASDAQ:CCB) last announced its 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 firm had revenue of $56.30 million during the quarter, compared to the consensus estimate of $138.63 million. As a group, analysts expect that Coastal Financial Corporation will post 4.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CCB shares. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen decreased their target price on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Stephens reissued an “overweight” rating and set a $110.00 target price on shares of Coastal Financial in a research note on Friday, May 1st. Weiss Ratings lowered shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Finally, Zacks Research lowered shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.60.

Coastal Financial 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.