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

Shares of Coastal Financial Corporation (NASDAQ:CCB) have received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $122.60.

A number of brokerages have recently issued reports on CCB. 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 report on Thursday, April 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings lowered shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Finally, Zacks Research downgraded Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th.

Institutional Investors Weigh In On Coastal Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cooper Creek Partners Management LLC boosted its holdings in shares of Coastal Financial by 105.0% during the 1st quarter. Cooper Creek Partners Management LLC now owns 450,134 shares of the company’s stock worth $34,255,000 after buying an additional 230,537 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Coastal Financial by 364.1% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,764 shares of the company’s stock valued at $18,255,000 after acquiring an additional 132,403 shares in the last quarter. UBS Group AG lifted its position in shares of Coastal Financial by 158.7% during the 3rd quarter. UBS Group AG now owns 166,185 shares of the company’s stock valued at $17,976,000 after acquiring an additional 101,935 shares during the period. Next Century Growth Investors LLC boosted its stake in Coastal Financial by 130.0% during the fourth quarter. Next Century Growth Investors LLC now owns 178,224 shares of the company’s stock worth $20,423,000 after acquiring an additional 100,731 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted 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 worth $37,841,000 after acquiring an additional 100,661 shares in the last quarter. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Price Performance

Shares of CCB opened at $77.25 on Friday. The business has a 50-day moving average of $73.76 and a 200-day moving average of $87.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 24.22 and a beta of 0.72. Coastal Financial has a 1 year low of $66.50 and a 1 year high of $120.05.

Coastal Financial (NASDAQ:CCB) last announced its earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.24). The company had revenue of $56.30 million during the quarter, compared to the consensus estimate 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 research analysts anticipate that Coastal Financial will post 4.56 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.