Coastal Financial (NASDAQ:CCB) Given New $105.00 Price Target at Raymond James

Coastal Financial (NASDAQ:CCB - Free Report) had its price target raised by Raymond James from $100.00 to $105.00 in a research report released on Wednesday, MarketBeat.com reports. They currently have a strong-buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Stephens reiterated an "overweight" rating and set a $100.00 price target on shares of Coastal Financial in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods boosted their target price on Coastal Financial from $96.00 to $114.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th.

Coastal Financial Price Performance

Shares of Coastal Financial stock traded up $0.85 during trading on Wednesday, reaching $80.64. The company's stock had a trading volume of 42,546 shares, compared to its average volume of 87,507. The business has a 50 day moving average price of $88.38 and a 200-day moving average price of $77.29. The company has a market capitalization of $1.21 billion, a P/E ratio of 24.81 and a beta of 1.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial has a 12-month low of $37.30 and a 12-month high of $102.25.

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Coastal Financial (NASDAQ:CCB - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. As a group, sell-side analysts anticipate that Coastal Financial will post 4.59 EPS for the current year.

Institutional Investors Weigh In On Coastal Financial

A number of large investors have recently bought and sold shares of CCB. T. Rowe Price Investment Management Inc. raised its holdings in shares of Coastal Financial by 47.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,322,325 shares of the company's stock worth $112,279,000 after acquiring an additional 423,864 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Coastal Financial by 11.4% in the 4th quarter. Vanguard Group Inc. now owns 685,385 shares of the company's stock valued at $58,196,000 after purchasing an additional 70,272 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Coastal Financial by 1,067.9% during the 4th quarter. Wellington Management Group LLP now owns 456,887 shares of the company's stock worth $38,794,000 after purchasing an additional 417,767 shares during the last quarter. Azora Capital LP acquired a new stake in shares of Coastal Financial during the 4th quarter worth about $33,794,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Coastal Financial by 9.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 385,433 shares of the company's stock worth $32,727,000 after buying an additional 33,980 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company's stock.

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.