Coastal Financial (NASDAQ:CCB) Price Target Raised to $114.00 at Keefe, Bruyette & Woods

Coastal Financial (NASDAQ:CCB - Free Report) had its price target lifted by Keefe, Bruyette & Woods from $96.00 to $114.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Raymond James reaffirmed a "strong-buy" rating and set a $100.00 target price (up from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th. Stephens reaffirmed an "overweight" rating and set a $100.00 price objective on shares of Coastal Financial in a research report on Thursday, February 13th.

Coastal Financial Trading Down 4.7 %

Shares of CCB traded down $4.12 during midday trading on Tuesday, hitting $82.99. 177,902 shares of the stock were exchanged, compared to its average volume of 128,277. 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 firm has a market cap of $1.12 billion, a P/E ratio of 25.54 and a beta of 1.21. Coastal Financial has a 52-week low of $35.67 and a 52-week high of $102.25. The stock has a fifty day simple moving average of $87.70 and a 200 day simple moving average of $71.90.

Coastal Financial (NASDAQ:CCB - Get Free Report) last announced its 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 net margin of 6.43% and a return on equity of 14.98%. On average, research analysts anticipate that Coastal Financial will post 4.59 EPS for the current fiscal year.

Remove Ads

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in shares of Coastal Financial in the 4th quarter valued at $172,000. Public Employees Retirement System of Ohio acquired a new position in shares of Coastal Financial during the fourth quarter worth $448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Coastal Financial by 101.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,417 shares of the company's stock valued at $2,158,000 after buying an additional 12,814 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in Coastal Financial in the fourth quarter valued at $7,620,000. Finally, Squarepoint Ops LLC purchased a new stake in Coastal Financial during the 4th quarter worth about $1,664,000. Hedge funds and other institutional investors 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.