Key Points
- CEO Eric Sprink sold 8,349 shares of Coastal Financial (CCB) on Jan. 2 at an average price of $113.73 for proceeds of $949,531.77, reducing his holding by 3.96% to 202,662 shares (valued at about $23.05M), per an SEC filing.
- Coastal Financial has a market capitalization of $1.74 billion, a P/E of 36.43, a 12‑month trading range of $76.11–$120.05, and recent price technicals showing a 50‑day SMA of $110.53 and 200‑day SMA of $107.14.
- Analysts have a consensus Buy rating with a $125.17 target (several firms set $155 targets), institutional investors own roughly 59.24% of the stock, and the company slightly missed quarterly EPS expectations while reporting revenue well below the cited consensus.
Coastal Financial Corporation (NASDAQ:CCB - Get Free Report) CEO Eric Sprink sold 8,349 shares of Coastal Financial stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $113.73, for a total value of $949,531.77. Following the sale, the chief executive officer directly owned 202,662 shares of the company's stock, valued at $23,048,749.26. This represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Coastal Financial Price Performance
Shares of NASDAQ CCB opened at $115.11 on Tuesday. The firm has a market capitalization of $1.74 billion, a P/E ratio of 36.43 and a beta of 0.89. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. The stock's 50-day simple moving average is $110.53 and its two-hundred day simple moving average is $107.14. Coastal Financial Corporation has a twelve month low of $76.11 and a twelve month high of $120.05.
Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). Coastal Financial had a net margin of 7.14% and a return on equity of 10.45%. The business had revenue of $52.89 million for the quarter, compared to the consensus estimate of $133.44 million. As a group, equities analysts anticipate that Coastal Financial Corporation will post 4.59 EPS for the current fiscal year.
Institutional Investors Weigh In On Coastal Financial
Institutional investors have recently bought and sold shares of the stock. Peregrine Capital Management LLC grew its stake in shares of Coastal Financial by 25.0% in the second quarter. Peregrine Capital Management LLC now owns 140,693 shares of the company's stock worth $13,629,000 after purchasing an additional 28,099 shares during the last quarter. Azora Capital LP lifted its holdings in Coastal Financial by 26.4% in 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. SG Americas Securities LLC lifted its holdings in Coastal Financial by 69.1% in the 2nd quarter. SG Americas Securities LLC now owns 10,741 shares of the company's stock worth $1,040,000 after buying an additional 4,391 shares during the period. Advisors Capital Management LLC grew its position in shares of Coastal Financial by 1.3% in the 2nd quarter. Advisors Capital Management LLC now owns 141,658 shares of the company's stock worth $13,722,000 after buying an additional 1,763 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Coastal Financial by 2.3% during the second quarter. Geode Capital Management LLC now owns 304,365 shares of the company's stock valued at $29,488,000 after buying an additional 6,730 shares during the period. 59.24% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently commented on CCB. Weiss Ratings reissued a "buy (b-)" rating on shares of Coastal Financial in a report on Monday, December 29th. UBS Group set a $155.00 target price on shares of Coastal Financial in a research report on Friday, December 5th. TD Cowen raised their price target on Coastal Financial from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Friday, December 5th. Cowen reaffirmed a "buy" rating on shares of Coastal Financial in a research note on Friday, December 5th. Finally, Zacks Research upgraded Coastal Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $125.17.
View Our Latest Research Report on CCB
Coastal Financial Company Profile
(
Get Free Report)
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.
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