Coastal Financial (NASDAQ:CCB) Receives “Overweight” Rating from Stephens

Stephens reaffirmed their overweight rating on shares of Coastal Financial (NASDAQ:CCB) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $100.00 target price on the stock.

Other equities analysts have also recently issued research reports about the stock. Hovde Group raised their target price on shares of Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Raymond James reiterated a “strong-buy” rating and set a $100.00 price objective (up previously from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods upped their target price on Coastal Financial from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th.

Coastal Financial Stock Performance

Shares of NASDAQ CCB opened at $89.30 on Thursday. Coastal Financial has a 12-month low of $35.67 and a 12-month high of $91.39. The company has a market cap of $1.21 billion, a PE ratio of 27.48 and a beta of 1.23. The stock has a 50 day simple moving average of $84.18 and a 200-day simple moving average of $67.39. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. On average, equities research analysts forecast that Coastal Financial will post 4.59 EPS for the current year.

Institutional Trading of Coastal Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Portside Wealth Group LLC grew its holdings in shares of Coastal Financial by 3.7% in the 3rd quarter. Portside Wealth Group LLC now owns 4,669 shares of the company’s stock worth $252,000 after acquiring an additional 166 shares during the last quarter. FMR LLC lifted its holdings in shares of Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after purchasing an additional 228 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Coastal Financial by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 45,886 shares of the company’s stock valued at $3,896,000 after purchasing an additional 400 shares during the period. Empowered Funds LLC increased its stake in Coastal Financial by 4.6% in the 4th quarter. Empowered Funds LLC now owns 11,591 shares of the company’s stock worth $984,000 after purchasing an additional 507 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Coastal Financial by 8.7% during the 4th quarter. SG Americas Securities LLC now owns 6,517 shares of the company’s stock worth $553,000 after buying an additional 522 shares during the period. 59.24% of the stock is owned by institutional investors and hedge funds.

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.