GW&K Investment Management LLC Has $12.84 Million Stock Holdings in Coastal Financial Co. (NASDAQ:CCB)

GW&K Investment Management LLC lessened its stake in shares of Coastal Financial Co. (NASDAQ:CCB) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,104 shares of the company’s stock after selling 13,420 shares during the quarter. GW&K Investment Management LLC owned about 2.17% of Coastal Financial worth $12,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates purchased a new stake in shares of Coastal Financial in the third quarter valued at about $216,000. Bank of New York Mellon Corp boosted its stake in shares of Coastal Financial by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 46,146 shares of the company’s stock worth $1,980,000 after buying an additional 550 shares during the last quarter. Simplex Trading LLC bought a new position in shares of Coastal Financial in the third quarter valued at approximately $335,000. JCSD Capital LLC increased its position in shares of Coastal Financial by 11.2% during the third quarter. JCSD Capital LLC now owns 116,711 shares of the company’s stock valued at $5,008,000 after acquiring an additional 11,763 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Coastal Financial by 3.9% during the third quarter. Barclays PLC now owns 16,825 shares of the company’s stock worth $722,000 after acquiring an additional 636 shares during the period. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Price Performance

Shares of CCB stock traded up $0.16 during trading on Wednesday, hitting $45.21. The company had a trading volume of 1,247 shares, compared to its average volume of 51,688. Coastal Financial Co. has a 52 week low of $34.02 and a 52 week high of $48.50. The stock has a market capitalization of $606.72 million, a price-to-earnings ratio of 15.75 and a beta of 1.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average is $39.81 and its two-hundred day moving average is $40.50.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.11). The firm had revenue of $147.89 million for the quarter, compared to the consensus estimate of $121.10 million. Coastal Financial had a return on equity of 14.31% and a net margin of 6.55%. As a group, analysts predict that Coastal Financial Co. will post 3.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Hovde Group decreased their price target on shares of Coastal Financial from $57.50 to $55.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd.

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.