Coastal Financial Corporation (NASDAQ:CCB) Receives $122.60 Consensus PT from Analysts

Coastal Financial Corporation (NASDAQ:CCB) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $122.60.

A number of research analysts have recently issued reports on CCB shares. Zacks Research raised Coastal Financial from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods decreased their price target on Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Stephens reiterated an “overweight” rating and issued a $110.00 price objective on shares of Coastal Financial in a research report on Friday, May 1st. TD Cowen dropped their price objective on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Coastal Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quent Capital LLC purchased a new stake in Coastal Financial in the 4th quarter valued at approximately $2,279,000. Phocas Financial Corp. purchased a new position in shares of Coastal Financial during the 4th quarter worth approximately $3,948,000. Militia Capital Partners LP lifted its holdings in shares of Coastal Financial by 90.0% in the 4th quarter. Militia Capital Partners LP now owns 19,000 shares of the company’s stock valued at $2,177,000 after buying an additional 9,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Coastal Financial in the 1st quarter valued at approximately $1,885,000. Finally, Next Century Growth Investors LLC lifted its holdings in shares of Coastal Financial by 130.0% in the 4th quarter. Next Century Growth Investors LLC now owns 178,224 shares of the company’s stock valued at $20,423,000 after buying an additional 100,731 shares during the period. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Coastal Financial Stock Performance

NASDAQ CCB opened at $72.19 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. Coastal Financial has a 52-week low of $66.50 and a 52-week high of $120.05. The business’s 50-day moving average price is $73.97 and its 200 day moving average price is $81.98. The firm has a market cap of $1.10 billion, a P/E ratio of 22.63 and a beta of 0.72.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.24). Coastal Financial had a net margin of 7.35% and a return on equity of 10.20%. The company had revenue of $56.30 million during the quarter, compared to analyst estimates of $138.63 million. On average, equities research analysts expect that Coastal Financial will post 4.57 earnings per share for the current year.

About Coastal Financial

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.