Eric M. Sprink Sells 4,000 Shares of Coastal Financial Co. (NASDAQ:CCB) Stock

by · The Markets Daily

Coastal Financial Co. (NASDAQ:CCB – Get Free Report) CEO Eric M. Sprink sold 4,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $63.20, for a total value of $252,800.00. Following the sale, the chief executive officer now owns 271,078 shares of the company’s stock, valued at approximately $17,132,129.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Coastal Financial Price Performance

Shares of CCB stock opened at $63.26 on Friday. The business has a fifty day simple moving average of $54.75 and a 200 day simple moving average of $48.72. Coastal Financial Co. has a twelve month low of $35.67 and a twelve month high of $68.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The company has a market cap of $851.48 million, a P/E ratio of 21.30 and a beta of 1.24.

Coastal Financial (NASDAQ:CCB – Get Free Report) last released its quarterly earnings data on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Coastal Financial had a return on equity of 14.16% and a net margin of 5.98%. The company had revenue of $185.15 million for the quarter, compared to the consensus estimate of $154.30 million. On average, sell-side analysts forecast that Coastal Financial Co. will post 3.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCB. Keefe, Bruyette & Woods upped their price objective on shares of Coastal Financial from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday. Hovde Group boosted their target price on shares of Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Raymond James increased their price target on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Tuesday.

Read Our Latest Report on CCB

Hedge Funds Weigh In On Coastal Financial

A number of hedge funds have recently modified their holdings of the business. Norden Group LLC bought a new position in Coastal Financial during the 1st quarter worth approximately $1,488,000. Riverwater Partners LLC raised its holdings in shares of Coastal Financial by 367.9% during the third quarter. Riverwater Partners LLC now owns 38,670 shares of the company’s stock valued at $2,012,000 after purchasing an additional 30,405 shares during the period. American Century Companies Inc. boosted its holdings in Coastal Financial by 23.3% in the second quarter. American Century Companies Inc. now owns 141,203 shares of the company’s stock worth $6,515,000 after acquiring an additional 26,690 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. lifted its holdings in shares of Coastal Financial by 214.0% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 30,116 shares of the company’s stock worth $1,626,000 after purchasing an additional 20,525 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Coastal Financial by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 359,861 shares of the company’s stock valued at $16,603,000 after buying an additional 20,517 shares during the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

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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