Coastal Financial’s (CCB) “Overweight” Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of Coastal Financial (NASDAQ:CCB) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $100.00 price target on the stock.

Several other research analysts have also commented on CCB. Raymond James reissued a “strong-buy” rating and issued a $100.00 price objective (up from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price target on Coastal Financial from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, Hovde Group increased their price objective on shares of Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th.

Coastal Financial Price Performance

CCB stock opened at $89.30 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50 day moving average price is $84.18 and its 200 day moving average price is $67.39. The firm has a market cap of $1.21 billion, a P/E ratio of 27.48 and a beta of 1.23. Coastal Financial has a 1 year low of $35.67 and a 1 year high of $91.39.

Coastal Financial (NASDAQ:CCB) last released 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 return on equity of 14.98% and a net margin of 6.43%. On average, sell-side analysts expect that Coastal Financial will post 4.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coastal Financial

A number of institutional investors have recently made changes to their positions in CCB. Portside Wealth Group LLC grew its position in shares of Coastal Financial by 3.7% during the 3rd quarter. Portside Wealth Group LLC now owns 4,669 shares of the company’s stock valued at $252,000 after buying an additional 166 shares during the last quarter. FMR LLC grew its holdings in shares of Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after purchasing an additional 228 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Coastal Financial by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 45,886 shares of the company’s stock valued at $3,896,000 after purchasing an additional 400 shares during the last quarter. Empowered Funds LLC raised its position in shares of Coastal Financial by 4.6% during the 4th quarter. Empowered Funds LLC now owns 11,591 shares of the company’s stock worth $984,000 after purchasing an additional 507 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Coastal Financial by 8.7% in the 4th quarter. SG Americas Securities LLC now owns 6,517 shares of the company’s stock worth $553,000 after purchasing an additional 522 shares during the last quarter. 59.24% of the stock is currently owned by institutional investors.

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.