Keefe, Bruyette & Woods Increases Coastal Financial (NASDAQ:CCB) Price Target to $75.00

Coastal Financial (NASDAQ:CCB - Get Free Report) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $70.00 to $75.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 16.26% from the company's previous close.

Several other equities analysts have also recently commented on CCB. Hovde Group boosted their target price on shares of Coastal Financial from $67.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday. Raymond James lifted their price objective on shares of Coastal Financial from $61.00 to $73.00 and gave the company a "strong-buy" rating in a research note on Tuesday.

Coastal Financial Price Performance

Coastal Financial stock traded up $0.88 during mid-day trading on Tuesday, reaching $64.51. 137,243 shares of the company were exchanged, compared to its average volume of 57,985. The firm has a market cap of $865.66 million, a PE ratio of 22.56 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03. The company has a fifty day simple moving average of $53.96 and a 200-day simple moving average of $48.32. Coastal Financial has a 12 month low of $35.67 and a 12 month high of $64.54.

Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Coastal Financial had a return on equity of 13.34% and a net margin of 6.07%. The company had revenue of $185.15 million for the quarter, compared to analysts' expectations of $154.30 million. As a group, equities research analysts expect that Coastal Financial will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Coastal Financial

In related news, CEO Eric M. Sprink sold 3,705 shares of the company's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $60.01, for a total transaction of $222,337.05. Following the completion of the transaction, the chief executive officer now directly owns 275,683 shares in the company, valued at $16,543,736.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Eric M. Sprink sold 3,705 shares of the firm's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $60.01, for a total transaction of $222,337.05. Following the sale, the chief executive officer now owns 275,683 shares of the company's stock, valued at $16,543,736.83. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Eric M. Sprink sold 1,000 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $59.19, for a total value of $59,190.00. Following the sale, the chief executive officer now owns 282,388 shares in the company, valued at $16,714,545.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,495 shares of company stock worth $3,187,116 over the last 90 days. Insiders own 16.82% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Rosenthal Henry Capital Advisors Inc. grew its stake in shares of Coastal Financial by 214.0% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 30,116 shares of the company's stock worth $1,626,000 after purchasing an additional 20,525 shares during the last quarter. Riverwater Partners LLC lifted its holdings in Coastal Financial by 367.9% during the 3rd quarter. Riverwater Partners LLC now owns 38,670 shares of the company's stock worth $2,012,000 after buying an additional 30,405 shares during the period. Moss Adams Wealth Advisors LLC bought a new stake in shares of Coastal Financial in the 3rd quarter valued at about $1,020,000. nVerses Capital LLC increased its stake in shares of Coastal Financial by 300.0% in the third quarter. nVerses Capital LLC now owns 800 shares of the company's stock valued at $43,000 after buying an additional 600 shares during the period. Finally, Creative Planning bought a new position in shares of Coastal Financial during the third quarter worth about $298,000. 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.