Insider Selling: Coastal Financial Co. (NASDAQ:CCB) CEO Sells $51,560.00 in Stock

by · The Markets Daily

Coastal Financial Co. (NASDAQ:CCB – Get Free Report) CEO Eric M. Sprink sold 1,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $51.56, for a total value of $51,560.00. Following the transaction, the chief executive officer now directly owns 312,689 shares in the company, valued at approximately $16,122,244.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Coastal Financial Trading Up 1.3 %

Coastal Financial stock opened at $52.99 on Friday. Coastal Financial Co. has a 52 week low of $35.67 and a 52 week high of $54.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $711.07 million, a PE ratio of 18.53 and a beta of 1.24. The business’s 50-day simple moving average is $50.79 and its 200-day simple moving average is $45.30.

Coastal Financial (NASDAQ:CCB – Get Free Report) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $167.41 million during 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%. Equities research analysts forecast that Coastal Financial Co. will post 3.52 earnings per share for the current year.

Institutional Trading of Coastal Financial

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Coastal Financial by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 598,601 shares of the company’s stock worth $23,268,000 after purchasing an additional 5,592 shares during the period. Dimensional Fund Advisors LP grew its position in Coastal Financial by 6.0% during the second 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. Kennedy Capital Management LLC increased its stake in Coastal Financial by 3.1% during the first quarter. Kennedy Capital Management LLC now owns 275,383 shares of the company’s stock valued at $10,704,000 after acquiring an additional 8,230 shares during the period. American Century Companies Inc. raised its holdings in Coastal Financial by 23.3% in the 2nd quarter. American Century Companies Inc. now owns 141,203 shares of the company’s stock valued at $6,515,000 after acquiring an additional 26,690 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Coastal Financial by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 58,061 shares of the company’s stock worth $2,679,000 after acquiring an additional 1,956 shares during the period. 59.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Hovde Group upped their target price 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 raised shares of Coastal Financial to a “moderate buy” rating in a report on Tuesday, July 30th.

Check Out Our Latest Stock Report on CCB

About Coastal Financial

(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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