Coastal Financial Corporation (NASDAQ:CCB) Receives Average Rating of “Moderate Buy” from Brokerages

Coastal Financial Corporation (NASDAQ:CCB) has been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $122.60.

Several research firms have recently issued reports on CCB. Stephens reissued an “overweight” rating and issued a $110.00 price target on shares of Coastal Financial in a research report on Friday, May 1st. TD Cowen dropped their price target 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. Keefe, Bruyette & Woods dropped their price target on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Weiss Ratings cut shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th.

Coastal Financial Stock Up 0.2%

CCB opened at $71.34 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 22.36 and a beta of 0.72. Coastal Financial has a twelve month low of $66.50 and a twelve month high of $120.05. The company’s 50-day moving average price is $76.12 and its two-hundred day moving average price is $91.87.

Coastal Financial (NASDAQ:CCB) last released its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). The company had revenue of $56.30 million during the quarter, compared to analysts’ expectations of $138.63 million. Coastal Financial had a net margin of 7.35% and a return on equity of 10.20%. As a group, equities analysts expect that Coastal Financial will post 4.56 earnings per share for the current year.

Institutional Trading of Coastal Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quent Capital LLC bought a new stake in Coastal Financial during the 4th quarter worth approximately $2,279,000. Ranger Investment Management L.P. bought a new stake in Coastal Financial during the 3rd quarter worth approximately $16,895,000. American Century Companies Inc. increased 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 acquiring an additional 28,616 shares during the period. Phocas Financial Corp. bought a new stake in Coastal Financial during the 4th quarter worth approximately $3,948,000. Finally, Vanguard Group Inc. increased its holdings in Coastal Financial by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 784,230 shares of the company’s stock worth $89,865,000 after acquiring an additional 18,193 shares during the period. Institutional investors own 59.24% of the company’s stock.

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.