Coastal Financial (NASDAQ:CCB) Given “Overweight” Rating at Stephens

Coastal Financial (NASDAQ:CCB)‘s stock had its “overweight” rating reissued by equities researchers at Stephens in a report released on Thursday,Benzinga reports. They presently have a $100.00 target price on the stock. Stephens’ price target indicates a potential upside of 11.15% from the stock’s current price.

A number of other brokerages also recently weighed in on CCB. Keefe, Bruyette & Woods increased their price objective on shares of Coastal Financial from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Raymond James reissued a “strong-buy” rating and set a $100.00 price target (up from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Finally, Hovde Group upped their price objective on 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 Stock Performance

CCB stock opened at $89.97 on Thursday. The stock’s 50 day simple moving average is $84.46 and its 200 day simple moving average is $67.65. 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 has a 12-month low of $35.67 and a 12-month high of $91.39. The stock has a market capitalization of $1.22 billion, a PE ratio of 27.68 and a beta of 1.23.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 EPS for the quarter, missing the consensus estimate 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 will post 4.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its holdings in Coastal Financial by 1.9% in the 4th quarter. First Trust Advisors LP now owns 8,297 shares of the company’s stock worth $704,000 after purchasing an additional 156 shares during the period. Portside Wealth Group LLC increased its position in Coastal Financial by 3.7% in the third quarter. Portside Wealth Group LLC now owns 4,669 shares of the company’s stock worth $252,000 after buying an additional 166 shares in the last quarter. FMR LLC raised its stake in shares of Coastal Financial by 21.0% in the third quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after buying an additional 228 shares during the period. Franklin Resources Inc. lifted its position in shares of Coastal Financial by 0.9% during the 4th quarter. Franklin Resources Inc. now owns 45,886 shares of the company’s stock valued at $3,896,000 after buying an additional 400 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Coastal Financial by 179.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock valued at $61,000 after acquiring an additional 461 shares during the period. Hedge funds and other institutional investors own 59.24% of the company’s stock.

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.