Coastal Financial Corporation (NASDAQ:CCB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Coastal Financial Corporation (NASDAQ:CCB) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $122.60.

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Zacks Research cut shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Weiss Ratings cut shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. TD Cowen lowered their target price on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Wall Street Zen cut shares of Coastal Financial from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd.

Coastal Financial Trading Down 0.6%

Shares of CCB opened at $70.29 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $78.14 and a 200-day simple moving average of $95.42. Coastal Financial has a 1-year low of $67.92 and a 1-year high of $120.05. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 22.03 and a beta of 0.76.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%.The business had revenue of $56.30 million for the quarter, compared to analysts’ expectations of $138.63 million. Equities analysts forecast that Coastal Financial will post 4.56 EPS for the current fiscal year.

Institutional Trading of Coastal Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lisanti Capital Growth LLC purchased a new stake in Coastal Financial in the 3rd quarter worth approximately $3,533,000. Quent Capital LLC purchased a new stake in Coastal Financial in the 4th quarter worth approximately $2,279,000. Ranger Investment Management L.P. purchased a new stake in Coastal Financial in the 3rd quarter worth approximately $16,895,000. American Century Companies Inc. grew its stake in Coastal Financial by 5.9% in the 3rd quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock worth $55,226,000 after acquiring an additional 28,616 shares during the period. Finally, Phocas Financial Corp. purchased a new stake in Coastal Financial in the 4th quarter worth approximately $3,948,000. 59.24% of the stock is owned by hedge funds and other institutional investors.

Coastal Financial Company Profile

Coastal Financial Corporation is a bank holding company whose principal subsidiary, Coastal Community Bank, provides a full range of community banking services to clients along North Carolina’s central and eastern coastline. The company focuses on delivering personalized relationship banking to individuals, small businesses, and local professionals in seaside and inland communities.

Through Coastal Community Bank, Coastal Financial offers deposit products including checking, savings, money market accounts and certificates of deposit.