Coastal Financial Co. (NASDAQ:CCB) CEO Sells $368,692.20 in Stock

Coastal Financial Co. (NASDAQ:CCBGet Rating) CEO Eric M. Sprink sold 7,710 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $47.82, for a total value of $368,692.20. Following the transaction, the chief executive officer now owns 225,892 shares in the company, valued at $10,802,155.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Coastal Financial Stock Down 0.1 %

CCB stock opened at $48.93 on Friday. The firm has a market cap of $634.13 million, a PE ratio of 18.75 and a beta of 1.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.03 and a current ratio of 1.05. The firm’s 50 day moving average price is $43.64 and its 200-day moving average price is $40.83. Coastal Financial Co. has a one year low of $35.61 and a one year high of $54.41.

Coastal Financial (NASDAQ:CCBGet Rating) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.82 EPS for the quarter. The firm had revenue of $83.58 million for the quarter. Coastal Financial had a net margin of 13.99% and a return on equity of 16.27%. On average, equities research analysts anticipate that Coastal Financial Co. will post 2.84 EPS for the current year.

Institutional Trading of Coastal Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Trust Services LTA acquired a new position in shares of Coastal Financial during the second quarter worth $17,172,000. RMB Capital Management LLC acquired a new position in Coastal Financial in the second quarter valued at $5,718,000. Jacobs Asset Management LLC acquired a new position in Coastal Financial in the second quarter valued at $4,496,000. Victory Capital Management Inc. boosted its stake in Coastal Financial by 96.5% in the first quarter. Victory Capital Management Inc. now owns 96,472 shares of the company’s stock valued at $4,238,000 after acquiring an additional 47,376 shares in the last quarter. Finally, John W. Rosenthal Capital Management Inc. acquired a new position in Coastal Financial in the first quarter valued at $1,820,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Raymond James assumed coverage on Coastal Financial in a report on Friday, October 28th. They set a “strong-buy” rating on the stock. Stephens boosted their target price on Coastal Financial to $54.00 in a report on Friday, November 4th. Finally, Hovde Group boosted their target price on Coastal Financial to $66.00 in a report on Tuesday, November 1st.

About Coastal Financial

(Get Rating)

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small to 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.

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