Brokerages Set Coastal Financial Corporation (NASDAQ:CCB) Price Target at $125.17

by · The Markets Daily

Coastal Financial Corporation (NASDAQ:CCB – Get Free Report) has earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $125.1667.

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Coastal Financial in a research report on Monday, December 1st. TD Cowen lifted their price objective on shares of Coastal Financial from $140.00 to $155.00 and gave the company a “buy” rating in a report on Friday, December 5th. Cowen reaffirmed a “buy” rating on shares of Coastal Financial in a research note on Friday, December 5th. UBS Group set a $155.00 price target on shares of Coastal Financial in a research report on Friday, December 5th. Finally, Hovde Group set a $126.00 price target on shares of Coastal Financial in a research note on Monday, August 18th.

Read Our Latest Stock Analysis on CCB

Insider Buying and Selling

In other Coastal Financial news, CEO Eric M. Sprink sold 10,683 shares of the company’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $114.65, for a total transaction of $1,224,805.95. Following the sale, the chief executive officer owned 211,011 shares in the company, valued at $24,192,411.15. This represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Joel G. Edwards sold 9,425 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $114.67, for a total transaction of $1,080,764.75. Following the sale, the chief financial officer owned 12,762 shares in the company, valued at $1,463,418.54. The trade was a 42.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 68,069 shares of company stock valued at $7,591,918. Company insiders own 14.10% of the company’s stock.

Institutional Investors Weigh In On Coastal Financial

Several institutional investors have recently modified their holdings of CCB. JPMorgan Chase & Co. raised its stake in Coastal Financial by 2.3% in the second quarter. JPMorgan Chase & Co. now owns 6,644 shares of the company’s stock valued at $644,000 after buying an additional 149 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Coastal Financial by 1.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,303 shares of the company’s stock worth $1,676,000 after purchasing an additional 165 shares during the period. Emerald Advisers LLC increased its position in Coastal Financial by 2.5% in the 2nd quarter. Emerald Advisers LLC now owns 7,421 shares of the company’s stock valued at $719,000 after acquiring an additional 179 shares during the period. Swiss National Bank raised its stake in shares of Coastal Financial by 0.8% during the third quarter. Swiss National Bank now owns 26,165 shares of the company’s stock worth $2,830,000 after purchasing an additional 200 shares during the last quarter. Finally, EJF Capital LLC lifted its stake in shares of Coastal Financial by 2.5% in the 2nd quarter. EJF Capital LLC now owns 13,547 shares of the company’s stock worth $1,312,000 after acquiring an additional 329 shares during the period. 59.24% of the stock is owned by hedge funds and other institutional investors.

Coastal Financial Stock Down 2.5%

Shares of NASDAQ CCB opened at $114.09 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $107.49 and its two-hundred day moving average is $103.71. Coastal Financial has a 52-week low of $76.11 and a 52-week high of $119.57. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 36.10 and a beta of 0.89.

Coastal Financial (NASDAQ:CCB – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $52.89 million for the quarter, compared to analysts’ expectations of $133.44 million. Coastal Financial had a return on equity of 10.45% and a net margin of 7.14%. Research analysts predict that Coastal Financial will post 4.59 EPS for the current year.

Coastal Financial Company Profile

(Get Free Report)

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.

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