Coastal Financial (NASDAQ:CCB) Sets New 12-Month High - Still a Buy?

Coastal Financial Co. (NASDAQ:CCB - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $97.55 and last traded at $96.68, with a volume of 247265 shares traded. The stock had previously closed at $92.15.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Coastal Financial from $96.00 to $114.00 and gave the stock an "outperform" rating in a research report on Tuesday. Stephens reissued an "overweight" rating and set a $100.00 price target on shares of Coastal Financial in a research report on Thursday, February 13th. Finally, Raymond James reissued a "strong-buy" rating and set a $100.00 price target (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th.

Coastal Financial Stock Performance

The company has a 50 day moving average price of $87.50 and a 200 day moving average price of $71.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 28.56 and a beta of 1.23.

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

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its stake in shares of Coastal Financial by 1.9% during the fourth quarter. First Trust Advisors LP now owns 8,297 shares of the company's stock valued at $704,000 after acquiring an additional 156 shares during the last quarter. Portside Wealth Group LLC grew its stake in Coastal Financial by 3.7% in the third quarter. Portside Wealth Group LLC now owns 4,669 shares of the company's stock worth $252,000 after purchasing an additional 166 shares during the period. FMR LLC boosted its holdings in Coastal Financial by 21.0% in the third quarter. FMR LLC now owns 1,316 shares of the company's stock worth $71,000 after acquiring an additional 228 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Coastal Financial by 5.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,459 shares of the company's stock worth $548,000 after acquiring an additional 343 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Coastal Financial by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 45,886 shares of the company's stock worth $3,896,000 after acquiring an additional 400 shares in the last quarter. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

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.