Jonathan E. Sand Sells 1,000 Shares of Coastal Financial Co. (NASDAQ:CCB) Stock

Coastal Financial Co. (NASDAQ:CCB) EVP Jonathan E. Sand sold 1,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $74.15, for a total value of $74,150.00. Following the sale, the executive vice president now directly owns 19,611 shares of the company’s stock, valued at $1,454,155.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Coastal Financial Price Performance

Coastal Financial stock opened at $73.66 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $997.36 million, a P/E ratio of 24.80 and a beta of 1.22. The business has a 50-day moving average of $57.43 and a 200-day moving average of $50.47. Coastal Financial Co. has a 1 year low of $35.67 and a 1 year high of $74.57.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $185.15 million during the quarter, compared to analysts’ expectations of $154.30 million. Coastal Financial had a net margin of 5.98% and a return on equity of 13.86%. On average, equities analysts anticipate that Coastal Financial Co. will post 3.55 EPS for the current year.

Institutional Trading of Coastal Financial

A number of large investors have recently made changes to their positions in CCB. Charles Schwab Investment Management Inc. lifted its holdings in Coastal Financial by 188.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company’s stock worth $4,967,000 after acquiring an additional 60,106 shares in the last quarter. Riverwater Partners LLC raised its position in shares of Coastal Financial by 367.9% during the third quarter. Riverwater Partners LLC now owns 38,670 shares of the company’s stock worth $2,012,000 after purchasing an additional 30,405 shares during the period. American Century Companies Inc. lifted its holdings in shares of Coastal Financial by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 141,203 shares of the company’s stock valued at $6,515,000 after purchasing an additional 26,690 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Coastal Financial by 79.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 57,357 shares of the company’s stock valued at $3,097,000 after purchasing an additional 25,482 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Coastal Financial by 474.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 25,049 shares of the company’s stock worth $1,352,000 after purchasing an additional 20,685 shares in the last quarter. Institutional investors own 59.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CCB has been the subject of several analyst reports. Raymond James lifted their price target on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their target price on shares of Coastal Financial from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Hovde Group upped their target price on shares of Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th.

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.