Coastal Financial (NASDAQ:CCB) Given New $95.00 Price Target at Keefe, Bruyette & Woods

Coastal Financial (NASDAQ:CCB) had its price objective lowered by Keefe, Bruyette & Woods from $115.00 to $95.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently commented on CCB. TD Cowen dropped 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 report on Thursday. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Hovde Group dropped their target price on shares of Coastal Financial from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Zacks Research raised shares of Coastal Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $110.00 target price on shares of Coastal Financial in a research report on Friday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Coastal Financial has an average rating of “Moderate Buy” and an average target price of $122.60.

Coastal Financial Trading Up 1.0%

CCB traded up $0.77 during trading on Friday, hitting $76.39. 197,955 shares of the stock traded hands, compared to its average volume of 150,970. The firm has a market capitalization of $1.16 billion, a P/E ratio of 23.95 and a beta of 0.76. 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 moving average of $78.77 and a 200 day moving average of $96.83. Coastal Financial has a 12-month low of $70.72 and a 12-month high of $120.05.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.24). Coastal Financial had a net margin of 7.35% and a return on equity of 10.35%. The firm had revenue of $56.30 million for the quarter, compared to analysts’ expectations of $138.63 million. Equities research analysts anticipate that Coastal Financial will post 5.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Lisanti Capital Growth LLC bought a new position in shares of Coastal Financial in the 3rd quarter worth about $3,533,000. Quent Capital LLC bought a new stake in Coastal Financial during the 4th quarter valued at about $2,279,000. D.A. Davidson & CO. bought a new stake in Coastal Financial during the 3rd quarter valued at about $13,580,000. Ranger Investment Management L.P. bought a new stake in Coastal Financial during the 3rd quarter valued at about $16,895,000. Finally, American Century Companies Inc. increased its stake in Coastal Financial by 5.9% during the 3rd quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock valued at $55,226,000 after purchasing an additional 28,616 shares in the last quarter. 59.24% of the stock is currently owned by 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.