Coastal Financial Corporation (NASDAQ:CCB) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Coastal Financial has a consensus analyst rating of “Moderate Buy” from six covering analysts, with four buy ratings and two holds. The average 12-month price target is $122.60.
• The stock has seen mixed analyst action recently, including upgrades from Zacks Research and Wall Street Zen, while Stephens maintained an overweight view and Keefe, Bruyette & Woods cut its price target to $95.
• The company’s latest quarterly results were weak, with EPS of $0.78 missing estimates and revenue of $56.3 million falling far short of expectations. Despite that, the stock opened at $77.25 and remains below its 1-year high of $120.05.

Coastal Financial Corporation (NASDAQ:CCB - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $122.60.

A number of analysts have recently commented on the stock. Zacks Research raised shares of Coastal Financial from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Coastal Financial in a research report on Monday, June 29th. Wall Street Zen upgraded shares of Coastal Financial from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Stephens reissued an "overweight" rating and set a $110.00 price target on shares of Coastal Financial in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Coastal Financial from $115.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday, May 1st.

Coastal Financial Stock Performance

CCB opened at $77.25 on Wednesday. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 24.22 and a beta of 0.72. The business's 50-day moving average price is $73.67 and its two-hundred day moving average price is $82.60. Coastal Financial has a 1 year low of $66.50 and a 1 year high of $120.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03.

Coastal Financial (NASDAQ:CCB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.24). The firm 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 10.20% and a net margin of 7.35%. Equities analysts expect that Coastal Financial will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Coastal Financial by 2.3% in the second quarter. JPMorgan Chase & Co. now owns 6,644 shares of the company's stock valued at $644,000 after purchasing an additional 149 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Coastal Financial by 7.0% during the 4th quarter. ProShare Advisors LLC now owns 2,360 shares of the company's stock worth $270,000 after buying an additional 155 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Coastal Financial by 129.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company's stock worth $34,000 after buying an additional 169 shares during the period. Swiss National Bank grew its stake in Coastal Financial by 0.8% in the 3rd quarter. Swiss National Bank now owns 26,165 shares of the company's stock valued at $2,830,000 after buying an additional 200 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Coastal Financial by 0.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 105,734 shares of the company's stock valued at $12,117,000 after buying an additional 293 shares during the last quarter. 59.24% of the stock is owned by institutional investors and hedge funds.

Coastal Financial Company Profile

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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