Coastal Financial (NASDAQ:CCB) Director Thomas Lane Sells 300 Shares

Coastal Financial Corporation (NASDAQ:CCB) Director Thomas Lane sold 300 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $72.60, for a total transaction of $21,780.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Coastal Financial Price Performance

CCB stock opened at $70.73 on Tuesday. Coastal Financial Corporation has a 52 week low of $70.27 and a 52 week high of $120.05. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $78.21 and a two-hundred day simple moving average of $95.64. The firm has a market capitalization of $1.08 billion, a P/E ratio of 22.17 and a beta of 0.76.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.24). Coastal Financial had a net margin of 7.35% and a return on equity of 10.35%. The business had revenue of $56.30 million for the quarter, compared to the consensus estimate of $138.63 million. Analysts anticipate that Coastal Financial Corporation will post 4.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Lisanti Capital Growth LLC purchased a new position in Coastal Financial during the 3rd quarter valued at about $3,533,000. Quent Capital LLC purchased a new position in shares of Coastal Financial in the 4th quarter worth approximately $2,279,000. Ranger Investment Management L.P. purchased a new position in shares of Coastal Financial in the 3rd quarter worth approximately $16,895,000. American Century Companies Inc. grew its position in shares of Coastal Financial by 5.9% in the 3rd quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock worth $55,226,000 after buying an additional 28,616 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new position in shares of Coastal Financial in the 4th quarter worth approximately $3,948,000. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CCB. Stephens reaffirmed an “overweight” rating and issued a $110.00 price target on shares of Coastal Financial in a research note on Friday, May 1st. Weiss Ratings downgraded shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Hovde Group cut their target price on shares of Coastal Financial from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Wall Street Zen downgraded shares of Coastal Financial from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, Zacks Research downgraded shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.60.

Coastal Financial Company Profile

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.