Thomas D. Lane Acquires 1,285 Shares of Coastal Financial Co. (NASDAQ:CCB) Stock

Coastal Financial Co. (NASDAQ:CCBGet Rating) Director Thomas D. Lane bought 1,285 shares of the company’s stock in a transaction on Monday, May 9th. The stock was purchased at an average cost of $39.42 per share, with a total value of $50,654.70. Following the completion of the transaction, the director now owns 78,287 shares in the company, valued at $3,086,073.54. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Coastal Financial stock traded down $0.22 during midday trading on Tuesday, reaching $39.52. The company’s stock had a trading volume of 565 shares, compared to its average volume of 44,592. Coastal Financial Co. has a fifty-two week low of $26.80 and a fifty-two week high of $54.41. The company has a market cap of $510.88 million, a P/E ratio of 18.66 and a beta of 1.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $45.03 and a 200-day simple moving average of $46.02.

Coastal Financial (NASDAQ:CCBGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. Coastal Financial had a net margin of 19.17% and a return on equity of 15.81%. As a group, equities analysts forecast that Coastal Financial Co. will post 2.16 earnings per share for the current year.

Several brokerages have commented on CCB. Raymond James assumed coverage on shares of Coastal Financial in a research report on Thursday, January 13th. They issued a “strong-buy” rating and a $69.00 price target for the company. Zacks Investment Research raised Coastal Financial from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a research note on Monday, March 7th. Two investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from, the stock has a consensus rating of “Strong Buy” and an average price target of $57.00.

A number of institutional investors and hedge funds have recently made changes to their positions in CCB. Citigroup Inc. grew its holdings in shares of Coastal Financial by 144.4% during the third quarter. Citigroup Inc. now owns 1,100 shares of the company’s stock worth $35,000 after purchasing an additional 650 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Coastal Financial by 81.3% in the 4th quarter. Lazard Asset Management LLC now owns 1,017 shares of the company’s stock valued at $51,000 after purchasing an additional 456 shares during the period. BNP Paribas Arbitrage SA grew its stake in Coastal Financial by 448.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,667 shares of the company’s stock worth $53,000 after buying an additional 1,363 shares during the last quarter. Prospera Financial Services Inc acquired a new position in Coastal Financial during the first quarter worth approximately $76,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Coastal Financial in the third quarter valued at approximately $83,000. 62.89% of the stock is owned by hedge funds and other institutional investors.

Coastal Financial Company Profile (Get Rating)

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small to 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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