Coastal Financial Co. (NASDAQ:CCB) CEO Sells $59,190.00 in Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $59.19, for a total transaction of $59,190.00. Following the completion of the transaction, the chief executive officer now owns 282,388 shares of the company’s stock, valued at $16,714,545.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Coastal Financial Trading Down 0.7 %

Shares of NASDAQ:CCB opened at $60.30 on Friday. The stock has a market capitalization of $809.17 million, a price-to-earnings ratio of 21.08 and a beta of 1.24. Coastal Financial Co. has a 1-year low of $35.67 and a 1-year high of $61.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day moving average price of $52.24 and a 200 day moving average price of $47.11.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $167.41 million during the quarter, compared to the consensus estimate of $168.30 million. Coastal Financial had a net margin of 6.07% and a return on equity of 13.34%. On average, research analysts anticipate that Coastal Financial Co. will post 3.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Coastal Financial

Several hedge funds have recently made changes to their positions in CCB. nVerses Capital LLC lifted its position in shares of Coastal Financial by 300.0% in the 3rd quarter. nVerses Capital LLC now owns 800 shares of the company’s stock valued at $43,000 after acquiring an additional 600 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of 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 acquiring an additional 1,439 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Coastal Financial in the 1st quarter worth approximately $207,000. Allspring Global Investments Holdings LLC lifted its position 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 worth $207,000 after buying an additional 4,472 shares in the last quarter. Finally, Creative Planning purchased a new stake in Coastal Financial in the 3rd quarter worth approximately $298,000. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CCB. Hovde Group raised their target price on shares of Coastal Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods upgraded shares of Coastal Financial to a “moderate buy” rating in a report on Tuesday, July 30th.

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.