Brokerages Set Coastal Financial Corporation (NASDAQ:CCB) Target Price at $125.17

Coastal Financial Corporation (NASDAQ:CCB) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $126.3333.

Several equities analysts have recently commented on the stock. TD Cowen restated a “buy” rating on shares of Coastal Financial in a research report on Friday, December 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Coastal Financial in a research report on Monday, December 29th. Hovde Group cut their target price on Coastal Financial from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday. Finally, UBS Group set a $155.00 price target on Coastal Financial in a research note on Friday, December 5th.

Insider Activity

In related news, CEO Eric M. Sprink sold 8,778 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $114.95, for a total transaction of $1,009,031.10. Following the completion of the transaction, the chief executive officer directly owned 193,884 shares in the company, valued at $22,286,965.80. This represents a 4.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven D. Hovde sold 3,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $117.25, for a total transaction of $351,750.00. Following the completion of the transaction, the director directly owned 11,500 shares of the company’s stock, valued at approximately $1,348,375. The trade was a 20.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 63,296 shares of company stock valued at $7,287,745. Insiders own 14.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCB. State of Alaska Department of Revenue bought a new stake in shares of Coastal Financial in the 3rd quarter valued at $64,000. Russell Investments Group Ltd. grew its holdings in Coastal Financial by 229.5% in the second quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock worth $80,000 after purchasing an additional 576 shares during the period. Farther Finance Advisors LLC increased its stake in Coastal Financial by 634.4% in the third quarter. Farther Finance Advisors LLC now owns 896 shares of the company’s stock valued at $97,000 after purchasing an additional 774 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Coastal Financial during the third quarter valued at about $102,000. Finally, First Horizon Corp bought a new position in shares of Coastal Financial during the 3rd quarter worth about $122,000. 59.24% of the stock is owned by institutional investors.

Coastal Financial Price Performance

Shares of NASDAQ CCB opened at $95.78 on Wednesday. The business has a fifty day moving average price of $112.82 and a two-hundred day moving average price of $108.61. The stock has a market capitalization of $1.45 billion, a PE ratio of 31.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.05. Coastal Financial has a fifty-two week low of $76.11 and a fifty-two week high of $120.05.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.34). Coastal Financial had a net margin of 7.11% and a return on equity of 10.16%. The company had revenue of $56.49 million during the quarter, compared to analyst estimates of $140.81 million. As a group, equities analysts predict that Coastal Financial will post 4.59 earnings per share for the current fiscal year.

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.