Raymond James Increases Coastal Financial (NASDAQ:CCB) Price Target to $105.00

Coastal Financial (NASDAQ:CCB) had its price objective raised by investment analysts at Raymond James from $100.00 to $105.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price objective indicates a potential upside of 16.92% from the stock’s previous close.

CCB has been the subject of a number of other reports. Keefe, Bruyette & Woods boosted their price objective on Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Stephens restated an “overweight” rating and set a $100.00 target price on shares of Coastal Financial in a research note on Tuesday, March 18th.

Coastal Financial Trading Down 0.2 %

NASDAQ:CCB traded down $0.16 during midday trading on Wednesday, reaching $89.81. 9,893 shares of the stock traded hands, compared to its average volume of 86,376. The company has a fifty day moving average of $88.32 and a 200 day moving average of $76.58. Coastal Financial has a 12 month low of $37.30 and a 12 month high of $102.25. 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 has a market capitalization of $1.35 billion, a P/E ratio of 27.54 and a beta of 1.21.

Coastal Financial (NASDAQ:CCB) last released its 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, research analysts predict that Coastal Financial will post 4.59 EPS for the current year.

Institutional Investors Weigh In On Coastal Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new stake in shares of Coastal Financial in the 3rd quarter worth approximately $31,000. Tower Research Capital LLC TRC boosted its holdings in Coastal Financial by 179.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock worth $61,000 after acquiring an additional 461 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Coastal Financial during the fourth quarter worth about $64,000. New York State Teachers Retirement System acquired a new position in shares of Coastal Financial during the fourth quarter valued at about $87,000. Finally, FMR LLC boosted its stake in Coastal Financial by 21.0% in the 3rd quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after purchasing an additional 228 shares in the last quarter. 59.24% of the stock is currently owned by hedge funds and other 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.