Coastal Financial Co. (NASDAQ:CCB) CEO Sells $252,800.00 in Stock

Coastal Financial Co. (NASDAQ:CCB - Get Free Report) CEO Eric M. Sprink sold 4,000 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $63.20, for a total value of $252,800.00. Following the transaction, the chief executive officer now directly owns 271,078 shares in the company, valued at $17,132,129.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Coastal Financial Stock Down 5.4 %

CCB stock traded down $3.58 during midday trading on Thursday, hitting $62.99. The company's stock had a trading volume of 106,739 shares, compared to its average volume of 58,528. The company has a market cap of $847.59 million, a PE ratio of 21.21 and a beta of 1.24. The firm's 50-day moving average is $54.55 and its 200-day moving average is $48.55. Coastal Financial Co. has a 12 month low of $35.67 and a 12 month high of $66.73. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15.

Coastal Financial (NASDAQ:CCB - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $185.15 million during the quarter, compared to analysts' expectations of $154.30 million. Coastal Financial had a net margin of 6.07% and a return on equity of 13.34%. On average, equities research analysts forecast that Coastal Financial Co. will post 3.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CCB. Keefe, Bruyette & Woods increased their price objective on Coastal Financial from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday. Hovde Group lifted their target price on shares of Coastal Financial from $67.00 to $76.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Raymond James lifted their price objective on Coastal Financial from $61.00 to $73.00 and gave the company a "strong-buy" rating in a research report on Tuesday.

Institutional Trading of Coastal Financial

Several large investors have recently added to or reduced their stakes in CCB. Norden Group LLC purchased a new stake in Coastal Financial during the 1st quarter worth approximately $1,488,000. Riverwater Partners LLC lifted its stake in Coastal Financial by 367.9% in the third quarter. Riverwater Partners LLC now owns 38,670 shares of the company's stock valued at $2,012,000 after buying an additional 30,405 shares during the last quarter. American Century Companies Inc. boosted its stake in Coastal Financial by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 141,203 shares of the company's stock worth $6,515,000 after purchasing an additional 26,690 shares during the period. Rosenthal Henry Capital Advisors Inc. boosted its stake in shares of Coastal Financial by 214.0% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 30,116 shares of the company's stock worth $1,626,000 after buying an additional 20,525 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Coastal Financial by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 359,861 shares of the company's stock valued at $16,603,000 after purchasing an additional 20,517 shares during the last quarter. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

Coastal Financial Company Profile

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.