Keefe, Bruyette & Woods Issues Positive Forecast for Coastal Financial (NASDAQ:CCB) Stock Price

Coastal Financial (NASDAQ:CCB) had its price target upped by stock analysts at Keefe, Bruyette & Woods from $96.00 to $114.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 13.20% from the company’s previous close.

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

Coastal Financial Stock Performance

CCB opened at $100.71 on Tuesday. The company has a quick ratio of 1.03, a current 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 $102.25. The business has a 50 day moving average of $87.31 and a 200-day moving average of $71.35. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 30.99 and a beta of 1.23.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Coastal Financial by 47.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,322,325 shares of the company’s stock valued at $112,279,000 after purchasing an additional 423,864 shares in the last quarter. Wellington Management Group LLP raised its holdings in Coastal Financial by 1,067.9% in the 4th quarter. Wellington Management Group LLP now owns 456,887 shares of the company’s stock valued at $38,794,000 after buying an additional 417,767 shares during the last quarter. Azora Capital LP acquired a new stake in Coastal Financial during the 4th quarter worth approximately $33,794,000. Driehaus Capital Management LLC bought a new stake in Coastal Financial during the 4th quarter worth approximately $8,170,000. Finally, Westwood Holdings Group Inc. acquired a new position in Coastal Financial in the 4th quarter valued at approximately $7,620,000. 59.24% of the stock is owned by 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.