Coastal Financial (NASDAQ:CCB) Price Target Lowered to $100.00 at Raymond James

Coastal Financial (NASDAQ:CCB - Get Free Report) had its target price lowered by equities research analysts at Raymond James from $105.00 to $100.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "strong-buy" rating on the stock. Raymond James' price target indicates a potential upside of 22.94% from the company's current price.

Several other equities research analysts have also commented on the company. Keefe, Bruyette & Woods upped their price objective on Coastal Financial from $96.00 to $114.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Hovde Group reduced their price target on Coastal Financial from $120.00 to $110.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Stephens reaffirmed an "overweight" rating and set a $100.00 price objective on shares of Coastal Financial in a research report on Tuesday, March 18th.

Coastal Financial Stock Performance

Shares of CCB traded up $1.04 during trading hours on Wednesday, hitting $81.34. The stock had a trading volume of 95,644 shares, compared to its average volume of 92,052. The firm has a market capitalization of $1.22 billion, a PE ratio of 25.03 and a beta of 1.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. Coastal Financial has a 12 month low of $40.43 and a 12 month high of $102.25. The stock has a fifty day moving average price of $85.78 and a 200 day moving average price of $81.31.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.30). The business had revenue of $139.54 million during the quarter, compared to the consensus estimate of $158.65 million. Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. Analysts anticipate that Coastal Financial will post 4.59 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gregory A. Tisdel sold 1,600 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $79.07, for a total transaction of $126,512.00. Following the completion of the transaction, the director now owns 14,006 shares in the company, valued at approximately $1,107,454.42. This represents a 10.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.82% of the stock is currently owned by company insiders.

Institutional Trading of Coastal Financial

Hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of Coastal Financial by 60.0% in the third quarter. Barclays PLC now owns 31,804 shares of the company's stock worth $1,719,000 after buying an additional 11,922 shares in the last quarter. Legal & General Group Plc increased its stake in Coastal Financial by 9.2% in the 4th quarter. Legal & General Group Plc now owns 11,643 shares of the company's stock worth $989,000 after acquiring an additional 984 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Coastal Financial during the 3rd quarter worth approximately $377,000. JPMorgan Chase & Co. boosted its position in shares of Coastal Financial by 40.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,081 shares of the company's stock valued at $6,321,000 after acquiring an additional 33,964 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Coastal Financial by 16.6% in the fourth quarter. Swiss National Bank now owns 25,965 shares of the company's stock valued at $2,205,000 after purchasing an additional 3,700 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.