Coastal Financial (NASDAQ:CCB) Hits New 12-Month High – Should You Buy?

Coastal Financial Co. (NASDAQ:CCB)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $97.55 and last traded at $96.68, with a volume of 247265 shares traded. The stock had previously closed at $92.15.

Wall Street Analyst Weigh In

Several analysts have recently commented on CCB shares. 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 report on Thursday, December 12th. Raymond James reaffirmed a “strong-buy” rating and issued a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Finally, Stephens reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Coastal Financial in a research report on Thursday, February 13th.

Coastal Financial Trading Up 2.1 %

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 30.38 and a beta of 1.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $86.57 and a 200-day moving average of $70.30.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data 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 net margin of 6.43% and a return on equity of 14.98%. As a group, research analysts forecast that Coastal Financial Co. will post 4.59 earnings per share for the current year.

Hedge Funds Weigh In On Coastal Financial

Several institutional investors have recently bought and sold shares of the stock. Ameriflex Group Inc. bought a new position in Coastal Financial during the fourth quarter valued at about $172,000. Public Employees Retirement System of Ohio bought a new position in Coastal Financial during the fourth quarter valued at about $448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Coastal Financial by 101.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,417 shares of the company’s stock valued at $2,158,000 after buying an additional 12,814 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in Coastal Financial during the fourth quarter valued at about $7,620,000. Finally, Squarepoint Ops LLC bought a new position in Coastal Financial during the fourth quarter valued at about $1,664,000. 59.24% of the stock is currently owned by institutional investors.

About Coastal Financial

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.