Coastal Financial Corporation (NASDAQ:CCB) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Coastal Financial Corporation (NASDAQ:CCB - Get Free Report) have received an average recommendation of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $122.60.

CCB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered their price target on shares of Coastal Financial from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, May 1st. Wall Street Zen lowered shares of Coastal Financial from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. Stephens reaffirmed an "overweight" rating and issued a $110.00 target price on shares of Coastal Financial in a research note on Friday, May 1st. TD Cowen cut their target price on Coastal Financial from $145.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded Coastal Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 2nd.

Hedge Funds Weigh In On Coastal Financial

A number of institutional investors have recently bought and sold shares of CCB. Ranger Investment Management L.P. purchased a new position in Coastal Financial during the third quarter worth about $16,895,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Coastal Financial by 364.1% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,764 shares of the company's stock worth $18,255,000 after purchasing an additional 132,403 shares during the period. UBS Group AG raised its stake in Coastal Financial by 158.7% during the third quarter. UBS Group AG now owns 166,185 shares of the company's stock worth $17,976,000 after purchasing an additional 101,935 shares during the period. Next Century Growth Investors LLC raised its stake in Coastal Financial by 130.0% during the fourth quarter. Next Century Growth Investors LLC now owns 178,224 shares of the company's stock worth $20,423,000 after purchasing an additional 100,731 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in Coastal Financial by 43.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 330,230 shares of the company's stock worth $37,841,000 after purchasing an additional 100,661 shares during the period. 59.24% of the stock is owned by hedge funds and other institutional investors.

Coastal Financial Stock Performance

CCB opened at $74.86 on Friday. The firm has a market capitalization of $1.14 billion, a PE ratio of 23.47 and a beta of 0.76. Coastal Financial has a twelve month low of $70.72 and a twelve month high of $120.05. The firm's 50-day moving average price is $78.50 and its 200 day moving average price is $96.09. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10.

Coastal Financial (NASDAQ:CCB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.24). The business had revenue of $56.30 million for the quarter, compared to analyst estimates of $138.63 million. Coastal Financial had a return on equity of 10.35% and a net margin of 7.35%. As a group, sell-side analysts expect that Coastal Financial will post 4.56 EPS for the current fiscal year.

About Coastal Financial

Coastal Financial Corporation is a bank holding company whose principal subsidiary, Coastal Community Bank, provides a full range of community banking services to clients along North Carolina's central and eastern coastline. The company focuses on delivering personalized relationship banking to individuals, small businesses, and local professionals in seaside and inland communities.

Through Coastal Community Bank, Coastal Financial offers deposit products including checking, savings, money market accounts and certificates of deposit.

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