Insider Selling: Coastal Financial Co. (NASDAQ:CCB) Director Sells 1,600 Shares of Stock

Coastal Financial Co. (NASDAQ:CCB - Get Free Report) Director Gregory A. Tisdel sold 1,600 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $79.07, for a total value of $126,512.00. Following the completion of the transaction, the director now owns 14,006 shares of the company's stock, valued at approximately $1,107,454.42. This represents a 10.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Coastal Financial Stock Up 1.6 %

CCB stock traded up $1.33 during midday trading on Friday, reaching $83.25. The company had a trading volume of 86,034 shares, compared to its average volume of 90,190. The company has a market capitalization of $1.25 billion, a P/E ratio of 25.62 and a beta of 1.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial Co. has a 1 year low of $37.51 and a 1 year high of $102.25. The company has a 50 day moving average of $86.78 and a two-hundred day moving average of $79.36.

Coastal Financial (NASDAQ:CCB - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. On average, equities research analysts expect that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on CCB shares. Stephens reaffirmed an "overweight" rating and set a $100.00 price target on shares of Coastal Financial in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods upped their target price on shares of Coastal Financial from $96.00 to $114.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Finally, Raymond James reiterated a "strong-buy" rating on shares of Coastal Financial in a report on Wednesday, April 2nd.

Institutional Trading of Coastal Financial

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in Coastal Financial by 179.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock worth $61,000 after acquiring an additional 461 shares during the period. Meeder Asset Management Inc. bought a new stake in Coastal Financial during the 4th quarter worth approximately $64,000. New York State Teachers Retirement System acquired a new stake in shares of Coastal Financial during the fourth quarter worth $87,000. FMR LLC lifted its holdings in shares of Coastal Financial by 21.0% in the third quarter. FMR LLC now owns 1,316 shares of the company's stock valued at $71,000 after purchasing an additional 228 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in Coastal Financial during the 4th quarter worth approximately $122,000. Institutional investors and hedge funds 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.