Coastal Financial Co. (NASDAQ:CCB – Get Free Report) CEO Eric M. Sprink sold 4,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $54.25, for a total value of $217,000.00. Following the completion of the transaction, the chief executive officer now owns 309,689 shares of the company’s stock, valued at approximately $16,800,628.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Coastal Financial Price Performance
NASDAQ CCB opened at $52.00 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03. Coastal Financial Co. has a 1-year low of $35.67 and a 1-year high of $54.73. The stock has a market capitalization of $697.79 million, a price-to-earnings ratio of 18.18 and a beta of 1.24. The business’s fifty day moving average price is $50.84 and its 200-day moving average price is $45.65.
Coastal Financial (NASDAQ:CCB – Get Free Report) last posted its earnings results on Monday, July 29th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $167.41 million for the quarter, compared to the consensus estimate of $168.30 million. Coastal Financial had a return on equity of 13.34% and a net margin of 6.07%. On average, equities analysts predict that Coastal Financial Co. will post 3.52 earnings per share for the current year.
Analyst Ratings Changes
Check Out Our Latest Research Report on CCB
Hedge Funds Weigh In On Coastal Financial
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norden Group LLC purchased a new position in Coastal Financial during the first quarter valued at $1,488,000. American Century Companies Inc. raised its stake in shares of Coastal Financial by 23.3% in the second quarter. American Century Companies Inc. now owns 141,203 shares of the company’s stock worth $6,515,000 after buying an additional 26,690 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Coastal Financial by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 359,861 shares of the company’s stock valued at $16,603,000 after buying an additional 20,517 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Coastal Financial during the 1st quarter valued at approximately $714,000. Finally, Rosenthal Henry Capital Advisors Inc. purchased a new stake in Coastal Financial in the 2nd quarter worth approximately $443,000. Hedge funds and other institutional investors own 59.24% of the company’s stock.
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.
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