Coastal Financial Co. (NASDAQ:CCB) EVP Jonathan E. Sand Sells 1,000 Shares of Stock

Coastal Financial Co. (NASDAQ:CCB) EVP Jonathan E. Sand sold 1,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $74.15, for a total value of $74,150.00. Following the sale, the executive vice president now directly owns 19,611 shares of the company’s stock, valued at approximately $1,454,155.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Coastal Financial Stock Up 0.2 %

NASDAQ:CCB opened at $72.51 on Wednesday. Coastal Financial Co. has a 52 week low of $35.67 and a 52 week high of $74.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $56.99 and its two-hundred day moving average is $50.31. The stock has a market capitalization of $975.98 million, a price-to-earnings ratio of 24.41 and a beta of 1.22.

Coastal Financial (NASDAQ:CCB) last announced its earnings results on Monday, October 28th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $185.15 million during the quarter, compared to analysts’ expectations of $154.30 million. Coastal Financial had a return on equity of 14.16% and a net margin of 5.98%. Research analysts anticipate that Coastal Financial Co. will post 3.55 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CCB. Hovde Group increased their price target on Coastal Financial from $67.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Raymond James increased their target price on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Coastal Financial from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Coastal Financial by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 598,601 shares of the company’s stock valued at $23,268,000 after buying an additional 5,592 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Coastal Financial by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 359,861 shares of the company’s stock valued at $16,603,000 after purchasing an additional 20,517 shares during the period. Kennedy Capital Management LLC grew its stake in Coastal Financial by 3.1% during the 1st quarter. Kennedy Capital Management LLC now owns 275,383 shares of the company’s stock worth $10,704,000 after purchasing an additional 8,230 shares in the last quarter. American Century Companies Inc. increased its holdings in Coastal Financial by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 141,203 shares of the company’s stock worth $6,515,000 after purchasing an additional 26,690 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Coastal Financial by 188.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company’s stock valued at $4,967,000 after purchasing an additional 60,106 shares in the last quarter. 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.