Coastal Financial Corporation (NASDAQ:CCB) Given Average Recommendation of “Moderate Buy” by Analysts

Coastal Financial Corporation (NASDAQ:CCB) has received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $133.60.

CCB has been the topic of a number of research analyst reports. Weiss Ratings lowered Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. UBS Group set a $155.00 price objective on shares of Coastal Financial in a research report on Friday, December 5th. Keefe, Bruyette & Woods lowered their price objective 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. Hovde Group dropped their target price on shares of Coastal Financial from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Finally, TD Cowen reissued a “buy” rating on shares of Coastal Financial in a research note on Friday, December 5th.

Coastal Financial Stock Performance

Shares of NASDAQ CCB opened at $75.42 on Thursday. Coastal Financial has a 1 year low of $70.72 and a 1 year high of $120.05. The firm has a market cap of $1.15 billion, a P/E ratio of 24.81 and a beta of 0.86. The stock has a fifty day moving average price of $91.30 and a two-hundred day moving average price of $103.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.06.

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

Insider Buying and Selling at Coastal Financial

In other news, CFO Joel G. Edwards sold 1,300 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $111.34, for a total transaction of $144,742.00. Following the completion of the sale, the chief financial officer directly owned 11,462 shares of the company’s stock, valued at $1,276,179.08. This trade represents a 10.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric M. Sprink sold 8,778 shares of Coastal Financial stock in a transaction on Monday, January 5th. The stock was sold at an average price of $114.95, for a total value of $1,009,031.10. Following the completion of the transaction, the chief executive officer owned 193,884 shares in the company, valued at $22,286,965.80. The trade was a 4.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,185 shares of company stock worth $6,127,817 in the last ninety days. 14.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coastal Financial

Several hedge funds have recently modified their holdings of CCB. Vanguard Group Inc. boosted its position in shares of Coastal Financial by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 784,230 shares of the company’s stock valued at $89,865,000 after purchasing an additional 18,193 shares during the period. Azora Capital LP raised its holdings in Coastal Financial by 26.4% during the 2nd quarter. Azora Capital LP now owns 751,098 shares of the company’s stock worth $72,759,000 after buying an additional 156,956 shares during the period. American Century Companies Inc. raised its holdings in Coastal Financial by 5.9% during the 3rd quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock worth $55,226,000 after buying an additional 28,616 shares during the period. Wellington Management Group LLP lifted its stake in Coastal Financial by 9.0% during the third quarter. Wellington Management Group LLP now owns 486,197 shares of the company’s stock valued at $52,592,000 after buying an additional 39,984 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in Coastal Financial by 43.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 330,230 shares of the company’s stock valued at $37,841,000 after buying an additional 100,661 shares in the last quarter. 59.24% of the stock is owned by hedge funds and other institutional investors.

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.