Keefe, Bruyette & Woods Issues Positive Forecast for Coastal Financial (NASDAQ:CCB) Stock Price

Coastal Financial (NASDAQ:CCB - Get Free Report) had its price objective increased by research analysts at Keefe, Bruyette & Woods from $110.00 to $115.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 13.23% from the company's current price.

A number of other equities analysts have also recently weighed in on the company. Stephens restated an "overweight" rating and issued a $100.00 price target on shares of Coastal Financial in a report on Tuesday, March 18th. Raymond James Financial decreased their price target on Coastal Financial from $105.00 to $100.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 30th. Finally, Hovde Group decreased their price target on Coastal Financial from $120.00 to $110.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th.

Coastal Financial Trading Down 0.4%

Shares of NASDAQ CCB traded down $0.40 during midday trading on Friday, hitting $101.56. The stock had a trading volume of 107,424 shares, compared to its average volume of 103,078. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 30.05 and a beta of 0.96. Coastal Financial has a 1-year low of $45.92 and a 1-year high of $106.38. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $90.12 and a 200 day moving average price of $87.51.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released 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 firm had revenue of $139.54 million during the quarter, compared to analyst estimates of $158.65 million. Coastal Financial had a net margin of 6.94% and a return on equity of 12.53%. On average, analysts predict that Coastal Financial will post 4.59 earnings per share for the current year.

Insider Buying and Selling at Coastal Financial

In other Coastal Financial news, CFO Joel G. Edwards sold 3,128 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $88.44, for a total value of $276,640.32. Following the sale, the chief financial officer directly owned 41,387 shares of the company's stock, valued at $3,660,266.28. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory A. Tisdel sold 1,600 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $79.07, for a total value of $126,512.00. Following the completion of the sale, the director directly owned 14,006 shares in the company, valued at $1,107,454.42. This represents a 10.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coastal Financial

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in shares of Coastal Financial by 8.2% in the first quarter. Rhumbline Advisers now owns 16,700 shares of the company's stock worth $1,510,000 after purchasing an additional 1,262 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Coastal Financial by 50,271.4% in the first quarter. GAMMA Investing LLC now owns 3,526 shares of the company's stock worth $319,000 after purchasing an additional 3,519 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Coastal Financial by 9.2% in the fourth quarter. Legal & General Group Plc now owns 11,643 shares of the company's stock worth $989,000 after purchasing an additional 984 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Coastal Financial by 9.7% in the fourth quarter. Bank of America Corp DE now owns 16,742 shares of the company's stock worth $1,422,000 after purchasing an additional 1,478 shares in the last quarter. Finally, Swiss National Bank grew its stake 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 worth $2,205,000 after purchasing an additional 3,700 shares in the last quarter. 59.24% of the stock is owned by institutional investors and hedge funds.

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.