Coastal Financial (NASDAQ:CCB) CFO Sells $144,742.00 in Stock

Coastal Financial Corporation (NASDAQ:CCB) CFO Joel Edwards sold 1,300 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $111.34, for a total transaction of $144,742.00. Following the completion of the sale, the chief financial officer owned 11,462 shares in the company, valued at $1,276,179.08. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Coastal Financial Price Performance

CCB opened at $95.78 on Friday. The company has a fifty day simple moving average of $112.82 and a 200 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. The stock has a market cap of $1.45 billion, a P/E ratio of 31.51 and a beta of 0.89. Coastal Financial Corporation has a 12 month low of $76.11 and a 12 month high of $120.05.

Coastal Financial (NASDAQ:CCB) last posted its earnings results on Thursday, January 29th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.34). Coastal Financial had a net margin of 7.11% and a return on equity of 10.16%. The business had revenue of $56.49 million during the quarter, compared to analyst estimates of $140.81 million. On average, research analysts expect that Coastal Financial Corporation will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CCB. Hovde Group cut their target price on Coastal Financial from $140.00 to $133.00 and set an “outperform” rating on the stock in a research note on Friday. TD Cowen reaffirmed a “buy” rating on shares of Coastal Financial in a report on Friday, December 5th. UBS Group set a $155.00 price target on Coastal Financial in a research note on Friday, December 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Coastal Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $126.33.

Hedge Funds Weigh In On Coastal Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Coastal Financial by 2.3% during the second quarter. JPMorgan Chase & Co. now owns 6,644 shares of the company’s stock worth $644,000 after acquiring an additional 149 shares in the last quarter. Emerald Advisers LLC lifted its holdings in shares of Coastal Financial by 2.5% during the second quarter. Emerald Advisers LLC now owns 7,421 shares of the company’s stock worth $719,000 after purchasing an additional 179 shares during the period. Swiss National Bank grew its position in shares of Coastal Financial by 0.8% in the 3rd quarter. Swiss National Bank now owns 26,165 shares of the company’s stock valued at $2,830,000 after buying an additional 200 shares during the last quarter. EJF Capital LLC boosted its holdings in Coastal Financial by 2.5% in the second quarter. EJF Capital LLC now owns 13,547 shares of the company’s stock valued at $1,312,000 after acquiring an additional 329 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Coastal Financial by 3.0% in the 3rd quarter. Legal & General Group Plc now owns 14,574 shares of the company’s stock valued at $1,576,000 after purchasing an additional 425 shares during the last quarter. Institutional investors own 59.24% of the company’s stock.

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.