Coastal Financial Corporation (NASDAQ:CCB) Receives Average Rating of “Moderate Buy” from Analysts
by Amy Steele · The Cerbat GemCoastal Financial Corporation (NASDAQ:CCB – Get Free Report) has earned an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $122.60.
Several equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Coastal Financial from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Stephens restated an “overweight” rating and issued a $110.00 price objective on shares of Coastal Financial in a report on Friday, May 1st. Weiss Ratings lowered shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. TD Cowen decreased their price objective on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Hovde Group decreased their price objective on shares of Coastal Financial from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, January 30th.
Check Out Our Latest Research Report on Coastal Financial
Coastal Financial Price Performance
Shares of CCB stock opened at $74.86 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.04. The firm’s 50-day moving average is $78.50 and its two-hundred day moving average is $96.09. Coastal Financial has a 12 month low of $70.72 and a 12 month high of $120.05. The company has a market capitalization of $1.14 billion, a PE ratio of 23.47 and a beta of 0.76.
Coastal Financial (NASDAQ:CCB – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). Coastal Financial had a net margin of 7.35% and a return on equity of 10.35%. The company had revenue of $56.30 million for the quarter, compared to analyst estimates of $138.63 million. Analysts predict that Coastal Financial will post 4.56 earnings per share for the current year.
Hedge Funds Weigh In On Coastal Financial
Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of Coastal Financial by 3.7% in the first quarter. AQR Capital Management LLC now owns 13,102 shares of the company’s stock valued at $1,185,000 after purchasing an additional 473 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Coastal Financial by 15.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,436 shares of the company’s stock valued at $672,000 after purchasing an additional 977 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Coastal Financial by 44.8% in the first quarter. Goldman Sachs Group Inc. now owns 73,503 shares of the company’s stock valued at $6,645,000 after purchasing an additional 22,725 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Coastal Financial by 7.3% in the first quarter. Empowered Funds LLC now owns 12,439 shares of the company’s stock valued at $1,125,000 after purchasing an additional 848 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Coastal Financial by 4.1% in the first 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 purchasing an additional 1,048 shares in the last quarter. 59.24% of the stock is currently owned by hedge funds and other institutional investors.
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.