Coastal Financial Co. (NASDAQ:CCB – Get Free Report) CEO Eric M. Sprink sold 3,482 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $71.14, for a total value of $247,709.48. Following the transaction, the chief executive officer now owns 244,906 shares in the company, valued at $17,422,612.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Coastal Financial Stock Performance
NASDAQ CCB opened at $70.32 on Friday. The business’s 50-day simple moving average is $55.88 and its 200-day simple moving average is $49.53. The firm has a market capitalization of $946.51 million, a P/E ratio of 23.68 and a beta of 1.22. Coastal Financial Co. has a 1-year low of $35.67 and a 1-year high of $72.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03.
Coastal Financial (NASDAQ:CCB – Get Free Report) last released its quarterly earnings data on Monday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Coastal Financial had a net margin of 5.98% and a return on equity of 14.16%. The company had revenue of $185.15 million during the quarter, compared to the consensus estimate of $154.30 million. Equities analysts predict that Coastal Financial Co. will post 3.55 EPS for the current year.
Institutional Inflows and Outflows
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Raymond James increased their price objective on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price target on shares of Coastal Financial from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Hovde Group lifted their price target on shares of Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th.
Check Out Our Latest Research Report on CCB
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.
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