Coastal Financial’s (CCB) Overweight Rating Reaffirmed at Stephens

Coastal Financial (NASDAQ:CCB)‘s stock had its “overweight” rating reissued by equities research analysts at Stephens in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $100.00 target price on the stock. Stephens’ price objective indicates a potential upside of 13.74% from the company’s current price.

Other research analysts have also issued research reports about the company. Hovde Group raised their price objective on Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Raymond James reissued 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 raised their target price on Coastal Financial from $92.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th.

Coastal Financial Stock Down 0.5 %

CCB traded down $0.42 during trading on Thursday, hitting $87.92. The stock had a trading volume of 15,972 shares, compared to its average volume of 113,912. Coastal Financial has a twelve month low of $35.67 and a twelve month high of $91.39. The stock has a 50 day simple moving average of $83.94 and a two-hundred day simple moving average of $67.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $1.19 billion, a PE ratio of 27.05 and a beta of 1.23.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share 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, research analysts predict that Coastal Financial will post 4.59 earnings per share for the current year.

Institutional Trading of Coastal Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new stake in shares of Coastal Financial during the third quarter valued at about $31,000. nVerses Capital LLC boosted its position in shares of Coastal Financial by 300.0% during the 3rd quarter. nVerses Capital LLC now owns 800 shares of the company’s stock worth $43,000 after purchasing an additional 600 shares during the period. Meeder Asset Management Inc. acquired a new stake in Coastal Financial in the 4th quarter valued at approximately $64,000. FMR LLC lifted its stake in Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after purchasing an additional 228 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Coastal Financial during the fourth quarter worth $87,000. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

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.