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

Coastal Financial Corporation (NASDAQ:CCB) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $122.60.

Several research firms have weighed in on CCB. Keefe, Bruyette & Woods lowered their price target on Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Wall Street Zen raised Coastal Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Coastal Financial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Weiss Ratings restated a “hold (c)” rating on shares of Coastal Financial in a research report on Monday, June 29th. Finally, Stephens reaffirmed an “overweight” rating and issued a $110.00 target price on shares of Coastal Financial in a research note on Friday, May 1st.

Hedge Funds Weigh In On Coastal Financial

Institutional investors have recently made changes to their positions in the stock. Cooper Creek Partners Management LLC raised 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 valued at $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 lifted its position in 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 worth $18,255,000 after buying an additional 132,403 shares during the last quarter. UBS Group AG boosted its stake in Coastal Financial by 158.7% in the third quarter. UBS Group AG now owns 166,185 shares of the company’s stock worth $17,976,000 after buying an additional 101,935 shares in the last quarter. Next Century Growth Investors LLC boosted its stake in Coastal Financial by 130.0% in the fourth quarter. Next Century Growth Investors LLC now owns 178,224 shares of the company’s stock worth $20,423,000 after buying an additional 100,731 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Coastal Financial by 43.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 330,230 shares of the company’s stock worth $37,841,000 after buying an additional 100,661 shares in the last quarter. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Stock Performance

Coastal Financial stock opened at $72.19 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.03 and a current ratio of 1.06. Coastal Financial has a fifty-two week low of $66.50 and a fifty-two week high of $120.05. The stock has a market cap of $1.10 billion, a P/E ratio of 22.63 and a beta of 0.72. The firm’s fifty day moving average price is $73.97 and its 200-day moving average price is $81.74.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings data 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). The business had revenue of $56.30 million for 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%. Equities research analysts forecast that Coastal Financial will post 4.57 earnings per share for the current fiscal 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.