Eric M. Sprink Sells 1,000 Shares of Coastal Financial Co. (NASDAQ:CCB) Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 1,000 shares of Coastal Financial stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $51.56, for a total transaction of $51,560.00. Following the sale, the chief executive officer now owns 312,689 shares in the company, valued at $16,122,244.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Coastal Financial Stock Up 1.3 %

Shares of NASDAQ CCB opened at $52.99 on Friday. The company has a market capitalization of $713.25 million, a P/E ratio of 18.53 and a beta of 1.24. Coastal Financial Co. has a 52-week low of $35.67 and a 52-week high of $54.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50 day moving average price is $50.79 and its 200-day moving average price is $45.25.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $167.41 million for the quarter, compared to the consensus estimate of $168.30 million. Coastal Financial had a net margin of 6.07% and a return on equity of 13.34%. Equities analysts forecast that Coastal Financial Co. will post 3.52 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CCB. EntryPoint Capital LLC lifted its position in shares of Coastal Financial by 642.4% during the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock valued at $65,000 after acquiring an additional 1,439 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Coastal Financial during the 1st quarter valued at $207,000. Allspring Global Investments Holdings LLC lifted its position in shares of Coastal Financial by 22,360.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company’s stock valued at $207,000 after acquiring an additional 4,472 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Coastal Financial during the 2nd quarter valued at $332,000. Finally, Parallel Advisors LLC lifted its position in shares of Coastal Financial by 2.9% during the 2nd quarter. Parallel Advisors LLC now owns 8,005 shares of the company’s stock valued at $369,000 after acquiring an additional 227 shares during the period. Institutional investors and hedge funds own 59.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CCB shares. Hovde Group lifted their target price on shares of Coastal Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods upgraded shares of Coastal Financial to a “moderate buy” rating in a research report on Tuesday, July 30th.

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.