Coastal Financial (NASDAQ:CCB - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $1.03 by ($0.09), Zacks reports. Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%.
Coastal Financial Stock Performance
Shares of CCB stock traded down $0.77 during mid-day trading on Friday, hitting $89.16. 114,674 shares of the stock were exchanged, compared to its average volume of 125,237. Coastal Financial has a 12-month low of $35.67 and a 12-month high of $91.39. 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 stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 27.43 and a beta of 1.22. The stock's fifty day simple moving average is $81.87 and its two-hundred day simple moving average is $64.85.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. Hovde Group increased their price objective on shares of Coastal Financial from $67.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price target on Coastal Financial from $92.00 to $96.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Finally, Raymond James reaffirmed a "strong-buy" rating and set a $100.00 price objective (up from $88.00) on shares of Coastal Financial in a research report on Wednesday.
View Our Latest Report on Coastal Financial
Insider Activity at Coastal Financial
In other news, CEO Eric M. Sprink sold 1,000 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $63.11, for a total value of $63,110.00. Following the completion of the sale, the chief executive officer now directly owns 250,388 shares of the company's stock, valued at approximately $15,801,986.68. This represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 7,482 shares of company stock valued at $526,869 in the last three months. 16.82% of the stock is currently owned by company insiders.
About Coastal Financial
(
Get Free Report)
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.
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