Key Points
- CFO Joel Edwards sold 1,300 shares of Coastal Financial (NASDAQ:CCB) on Jan. 26 at an average of $111.34 for $144,742, cutting his position by 10.19% to 11,462 shares.
- CCB trades near $100.95 with 50-/200-day SMAs of $112.93/$108.71 and a market cap around $1.53B; the company slightly missed quarterly EPS expectations and analysts have a consensus Buy with an average target of $125.17 (UBS $155).
Coastal Financial Corporation (NASDAQ:CCB - Get Free Report) CFO Joel Edwards sold 1,300 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $111.34, for a total value of $144,742.00. Following the sale, the chief financial officer owned 11,462 shares of the company's stock, valued at $1,276,179.08. This trade represents a 10.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Coastal Financial Stock Performance
Shares of NASDAQ CCB opened at $100.95 on Thursday. The stock's fifty day simple moving average is $112.93 and its 200 day simple moving average is $108.71. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 31.95 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. Coastal Financial Corporation has a 52-week low of $76.11 and a 52-week high of $120.05.
Coastal Financial (NASDAQ:CCB - Get Free Report) last released its quarterly 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 company had revenue of $52.89 million during the quarter, compared to analyst estimates of $133.44 million. Coastal Financial had a net margin of 7.14% and a return on equity of 10.45%. As a group, sell-side analysts forecast that Coastal Financial Corporation will post 4.59 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on CCB shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Coastal Financial in a research report on Monday, December 29th. UBS Group set a $155.00 price objective on shares of Coastal Financial in a research note on Friday, December 5th. Finally, TD Cowen reissued a "buy" rating on shares of Coastal Financial in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $125.17.
Read Our Latest Stock Report on CCB
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCB. State of Alaska Department of Revenue acquired a new position in Coastal Financial in the 3rd quarter valued at approximately $64,000. Russell Investments Group Ltd. grew its holdings in shares of Coastal Financial by 229.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 827 shares of the company's stock valued at $80,000 after acquiring an additional 576 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Coastal Financial by 634.4% in the third quarter. Farther Finance Advisors LLC now owns 896 shares of the company's stock worth $97,000 after acquiring an additional 774 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Coastal Financial in the third quarter worth $102,000. Finally, First Horizon Corp purchased a new stake in shares of Coastal Financial during the third quarter worth $122,000. 59.24% of the stock is owned by hedge funds and other institutional investors.
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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