Eric M. Sprink Sells 3,482 Shares of Coastal Financial Co. (NASDAQ:CCB) Stock

Coastal Financial Co. (NASDAQ:CCBGet 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:CCBGet 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

Several hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC boosted its position in shares of Coastal Financial by 300.0% in the third quarter. nVerses Capital LLC now owns 800 shares of the company’s stock worth $43,000 after buying an additional 600 shares during the period. EntryPoint Capital LLC lifted its position in Coastal Financial by 642.4% during the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock worth $65,000 after acquiring an additional 1,439 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Coastal Financial in the 1st quarter worth approximately $207,000. Allspring Global Investments Holdings LLC grew its position in Coastal Financial by 22,360.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company’s stock valued at $207,000 after acquiring an additional 4,472 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Coastal Financial during the third quarter valued at approximately $214,000. 59.24% of the stock is owned by hedge funds and other institutional investors.

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

(Get Free Report)

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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Insider Buying and Selling by Quarter for Coastal Financial (NASDAQ:CCB)

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