Coastal Financial (NASDAQ:CCB) Sets New 52-Week High - Should You Buy?

Coastal Financial Co. (NASDAQ:CCB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $91.92 and last traded at $90.46, with a volume of 6964 shares changing hands. The stock had previously closed at $89.97.

Analyst Ratings Changes

CCB has been the subject of several recent analyst reports. Stephens reaffirmed an "overweight" rating and issued a $100.00 target price on shares of Coastal Financial in a research report on Thursday, February 13th. Keefe, Bruyette & Woods raised their price objective on Coastal Financial from $92.00 to $96.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Raymond James reiterated a "strong-buy" rating and issued a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Finally, Hovde Group increased their price target on shares of Coastal Financial from $67.00 to $76.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th.

Coastal Financial Trading Down 2.1 %

The firm has a market capitalization of $1.21 billion, a PE ratio of 27.56 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The company has a fifty day moving average of $85.73 and a 200-day moving average of $69.04.

Coastal Financial (NASDAQ:CCB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share 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%. On average, sell-side analysts anticipate that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal year.

Institutional Trading of Coastal Financial

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in shares of Coastal Financial during the 3rd quarter valued at $31,000. Tower Research Capital LLC TRC increased its position in Coastal Financial by 179.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company's stock worth $61,000 after buying an additional 461 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Coastal Financial during the fourth quarter valued at about $64,000. FMR LLC lifted its position in shares of 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 buying an additional 228 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new stake in shares of Coastal Financial during the 4th quarter worth about $87,000. 59.24% of the stock is currently 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.