Coastal Financial Co. (NASDAQ:CCB) CEO Sells $260,050.00 in Stock

by · The Markets Daily

Coastal Financial Co. (NASDAQ:CCB – Get Free Report) CEO Eric M. Sprink sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $52.01, for a total transaction of $260,050.00. Following the completion of the sale, the chief executive officer now directly owns 305,285 shares in the company, valued at $15,877,872.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Coastal Financial Stock Performance

Shares of CCB opened at $53.81 on Thursday. Coastal Financial Co. has a 1 year low of $35.67 and a 1 year high of $55.00. The company’s 50 day simple moving average is $50.88 and its 200 day simple moving average is $46.19. The company has a market capitalization of $722.08 million, a price-to-earnings ratio of 18.81 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03.

Coastal Financial (NASDAQ:CCB – Get Free Report) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $167.41 million for the quarter, compared to analyst estimates of $168.30 million. Coastal Financial had a return on equity of 13.34% and a net margin of 6.07%. On average, sell-side analysts predict that Coastal Financial Co. will post 3.52 EPS for the current year.

Institutional Trading of Coastal Financial

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Coastal Financial during the 3rd quarter valued at approximately $324,000. Truist Financial Corp lifted its holdings in shares of Coastal Financial by 19.5% in the 2nd quarter. Truist Financial Corp now owns 19,423 shares of the company’s stock worth $896,000 after purchasing an additional 3,171 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Coastal Financial during the second quarter valued at $332,000. AQR Capital Management LLC boosted its stake in Coastal Financial by 19.6% during the 2nd quarter. AQR Capital Management LLC now owns 11,684 shares of the company’s stock valued at $539,000 after purchasing an additional 1,912 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Coastal Financial by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 359,861 shares of the company’s stock worth $16,603,000 after buying an additional 20,517 shares in the last quarter. 59.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Hovde Group lifted their price objective on Coastal Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods upgraded Coastal Financial to a “moderate buy” rating in a research report on Tuesday, July 30th.

Check Out Our Latest Report on CCB

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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