Coastal Financial Corporation (NASDAQ:CCB) Given Consensus Rating of “Moderate Buy” by Brokerages

Coastal Financial Corporation (NASDAQ:CCB) has been given a consensus rating of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $133.60.

A number of analysts recently weighed in on CCB shares. UBS Group set a $155.00 price objective on shares of Coastal Financial in a report on Friday, December 5th. Hovde Group decreased their target price on shares of Coastal Financial from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Keefe, Bruyette & Woods dropped their price target on shares of Coastal Financial from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings cut Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Finally, TD Cowen reiterated a “buy” rating on shares of Coastal Financial in a research report on Friday, December 5th.

Insider Buying and Selling at Coastal Financial

In other Coastal Financial news, CEO Eric M. Sprink sold 4,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $116.01, for a total transaction of $464,040.00. Following the completion of the transaction, the chief executive officer owned 159,126 shares in the company, valued at approximately $18,460,207.26. The trade was a 2.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joel G. Edwards sold 1,300 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $111.34, for a total value of $144,742.00. Following the completion of the transaction, the chief financial officer directly owned 11,462 shares of the company’s stock, valued at approximately $1,276,179.08. The trade was a 10.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,185 shares of company stock worth $6,127,817 in the last ninety days. 14.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coastal Financial

Several institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in Coastal Financial by 129.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock valued at $34,000 after buying an additional 169 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Coastal Financial during the 4th quarter worth about $50,000. State of Alaska Department of Revenue acquired a new stake in shares of Coastal Financial in the 3rd quarter worth approximately $64,000. Smartleaf Asset Management LLC lifted its stake in shares of Coastal Financial by 20,700.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $72,000 after acquiring an additional 621 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Coastal Financial by 229.5% in the second quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock valued at $80,000 after acquiring an additional 576 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Price Performance

Shares of CCB opened at $75.42 on Thursday. Coastal Financial has a 12 month low of $70.72 and a 12 month high of $120.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.04. The stock has a fifty day moving average price of $91.30 and a 200 day moving average price of $103.75. The company has a market cap of $1.15 billion, a P/E ratio of 24.81 and a beta of 0.86.

Coastal Financial (NASDAQ:CCB) last posted its earnings results on Thursday, January 29th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.34). The company had revenue of $56.49 million during the quarter, compared to the consensus estimate of $140.81 million. Coastal Financial had a net margin of 7.11% and a return on equity of 10.01%. On average, research analysts forecast that Coastal Financial will post 4.59 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.