Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink Sells 3,223 Shares of Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 3,223 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $50.44, for a total value of $162,568.12. Following the transaction, the chief executive officer now directly owns 313,689 shares in the company, valued at approximately $15,822,473.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Coastal Financial Stock Performance

Shares of NASDAQ CCB opened at $50.85 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. Coastal Financial Co. has a 12 month low of $35.67 and a 12 month high of $54.00. The stock has a 50 day moving average of $50.30 and a 200-day moving average of $44.47. The company has a market capitalization of $682.36 million, a P/E ratio of 17.78 and a beta of 1.24.

Coastal Financial (NASDAQ:CCB) last issued its earnings results on Monday, July 29th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Coastal Financial had a return on equity of 13.34% and a net margin of 6.07%. The company had revenue of $167.41 million during the quarter, compared to the consensus estimate of $168.30 million. As a group, equities research analysts predict that Coastal Financial Co. will post 3.52 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on CCB shares. Keefe, Bruyette & Woods raised Coastal Financial to a “moderate buy” rating in a research report on Tuesday, July 30th. Hovde Group boosted their price target on Coastal Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th.

Institutional Trading of Coastal Financial

Institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC boosted its stake in Coastal Financial by 642.4% in the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock valued at $65,000 after purchasing an additional 1,439 shares during the period. Quadrature Capital Ltd bought a new stake in Coastal Financial in the 1st quarter valued at $207,000. Allspring Global Investments Holdings LLC boosted its stake in Coastal Financial by 22,360.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company’s stock valued at $207,000 after purchasing an additional 4,472 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Coastal Financial in the 2nd quarter valued at $332,000. Finally, Parallel Advisors LLC boosted its stake in Coastal Financial by 2.9% in the 2nd quarter. Parallel Advisors LLC now owns 8,005 shares of the company’s stock valued at $369,000 after purchasing an additional 227 shares during the period. 59.24% of the stock is currently owned by institutional investors.

Coastal Financial Company Profile

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small and medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts.