Coastal Financial Co. (NASDAQ:CCB) Director Sells $126,512.00 in Stock

Coastal Financial Co. (NASDAQ:CCB) Director Gregory A. Tisdel sold 1,600 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $79.07, for a total value of $126,512.00. Following the transaction, the director now directly owns 14,006 shares in the company, valued at $1,107,454.42. This trade represents a 10.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Coastal Financial Stock Performance

Shares of CCB opened at $83.25 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $1.25 billion, a P/E ratio of 25.62 and a beta of 1.00. Coastal Financial Co. has a 12-month low of $37.30 and a 12-month high of $102.25. The firm’s 50 day moving average is $86.89 and its 200-day moving average is $78.96.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. Equities research analysts anticipate that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Coastal Financial

Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings 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. Stifel Financial Corp lifted its position in shares of Coastal Financial by 7.5% in the 3rd quarter. Stifel Financial Corp now owns 70,925 shares of the company’s stock valued at $3,829,000 after acquiring an additional 4,925 shares in the last quarter. State Street Corp boosted its stake in Coastal Financial by 2.4% in the 3rd quarter. State Street Corp now owns 314,274 shares of the company’s stock worth $16,968,000 after purchasing an additional 7,386 shares during the period. Barclays PLC boosted its stake in Coastal Financial by 60.0% in the 3rd quarter. Barclays PLC now owns 31,804 shares of the company’s stock worth $1,719,000 after purchasing an additional 11,922 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Coastal Financial during the 3rd quarter worth approximately $377,000. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Stephens reiterated an “overweight” rating and set a $100.00 price objective on shares of Coastal Financial in a research note on Tuesday, March 18th. Finally, Raymond James restated a “strong-buy” rating on shares of Coastal Financial in a research report on Wednesday, April 2nd.

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.