Coastal Financial (NASDAQ:CCB) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Coastal Financial (NASDAQ:CCB) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other brokerages also recently issued reports on CCB. TD Cowen dropped their price target on Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Stephens reiterated an “overweight” rating and set a $110.00 price target on shares of Coastal Financial in a research report on Friday, May 1st. Keefe, Bruyette & Woods dropped their price target on Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Weiss Ratings downgraded Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 2nd. Finally, Hovde Group dropped their price target on Coastal Financial from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $122.60.

Coastal Financial Stock Down 1.9%

Shares of NASDAQ CCB opened at $68.41 on Friday. Coastal Financial has a 52 week low of $66.50 and a 52 week high of $120.05. The business has a 50-day simple moving average of $77.69 and a two-hundred day simple moving average of $94.70. 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 market cap of $1.04 billion, a P/E ratio of 21.45 and a beta of 0.76.

Coastal Financial (NASDAQ:CCB) last issued its earnings results 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 return on equity of 10.20% and a net margin of 7.35%.The company had revenue of $56.30 million during the quarter, compared to the consensus estimate of $138.63 million. Research analysts anticipate that Coastal Financial will post 4.56 earnings per share for the current fiscal year.

Institutional Trading of Coastal Financial

A number of hedge funds have recently bought and sold shares of CCB. AQR Capital Management LLC lifted its position in 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Coastal Financial by 15.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,436 shares of the company’s stock worth $672,000 after buying an additional 977 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Coastal Financial by 44.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 73,503 shares of the company’s stock worth $6,645,000 after buying an additional 22,725 shares during the last quarter. Empowered Funds LLC lifted its position in Coastal Financial by 7.3% in the 1st quarter. Empowered Funds LLC now owns 12,439 shares of the company’s stock worth $1,125,000 after buying an additional 848 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Coastal Financial by 4.1% in the 1st 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 buying an additional 1,048 shares during the last quarter. Institutional investors own 59.24% of the company’s stock.

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.