Key Points
- On January 22, Coastal Financial CEO Eric Sprink sold 4,000 shares at an average price of $116.01 for $464,040, reducing his holding by 2.45% to 159,126 shares valued at about $18.46 million.
- CCB opened at $111.34, trades in a 52‑week range of $76.11–$120.05, and the company has a market capitalization of $1.68 billion with a P/E of 35.23.
- Coastal Financial reported quarterly EPS of $0.88 (missing the $0.89 consensus) and revenue well below estimates, but analysts retain a consensus Buy rating with an average price target of $125.17.
Coastal Financial Corporation (NASDAQ:CCB - Get Free Report) CEO Eric Sprink sold 4,000 shares of the business's stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $116.01, for a total transaction of $464,040.00. Following the completion of the sale, the chief executive officer owned 159,126 shares in the company, valued at $18,460,207.26. This represents a 2.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Coastal Financial Price Performance
CCB stock opened at $111.34 on Friday. Coastal Financial Corporation has a 52 week low of $76.11 and a 52 week high of $120.05. The firm has a market capitalization of $1.68 billion, a P/E ratio of 35.23 and a beta of 0.89. The company has a fifty day simple moving average of $112.77 and a two-hundred day simple moving average of $108.61. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.10.
Coastal Financial (NASDAQ:CCB - Get Free Report) last posted its earnings results on Wednesday, October 29th. The company reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). The business had revenue of $52.89 million during the quarter, compared to the consensus estimate of $133.44 million. Coastal Financial had a return on equity of 10.45% and a net margin of 7.14%. Analysts anticipate that Coastal Financial Corporation will post 4.59 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Coastal Financial by 3.7% in the 1st quarter. AQR Capital Management LLC now owns 13,102 shares of the company's stock worth $1,185,000 after buying an additional 473 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Coastal Financial by 15.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,436 shares of the company's stock valued at $672,000 after buying an additional 977 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Coastal Financial by 44.8% in the first quarter. Goldman Sachs Group Inc. now owns 73,503 shares of the company's stock valued at $6,645,000 after acquiring an additional 22,725 shares in the last quarter. Empowered Funds LLC lifted its stake in Coastal Financial by 7.3% in the first quarter. Empowered Funds LLC now owns 12,439 shares of the company's stock worth $1,125,000 after acquiring an additional 848 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Coastal Financial by 4.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 26,465 shares of the company's stock worth $2,393,000 after acquiring an additional 1,048 shares during the period. 59.24% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CCB has been the subject of several analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Coastal Financial in a research note on Monday, December 29th. TD Cowen restated a "buy" rating on shares of Coastal Financial in a report on Friday, December 5th. UBS Group set a $155.00 price objective on shares of Coastal Financial in a research report on Friday, December 5th. Finally, Zacks Research upgraded shares of Coastal Financial from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $125.17.
Get Our Latest Research Report on Coastal Financial
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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