Coastal Financial (NASDAQ:CCB) Director Sells $21,780.00 in Stock

by · The Cerbat Gem

Coastal Financial Corporation (NASDAQ:CCB – Get Free Report) Director Thomas Lane sold 300 shares of Coastal Financial stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $72.60, for a total transaction of $21,780.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Coastal Financial Trading Down 2.8%

CCB stock traded down $2.07 during midday trading on Monday, reaching $70.80. 143,982 shares of the company’s stock traded hands, compared to its average volume of 167,093. The company has a market capitalization of $1.08 billion, a P/E ratio of 22.19 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.04. Coastal Financial Corporation has a fifty-two week low of $70.27 and a fifty-two week high of $120.05. The business has a 50-day moving average price of $78.50 and a two-hundred day moving average price of $96.09.

Coastal Financial (NASDAQ:CCB – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). The business had revenue of $56.30 million for the quarter, compared to analyst estimates of $138.63 million. Coastal Financial had a net margin of 7.35% and a return on equity of 10.35%. Equities research analysts forecast that Coastal Financial Corporation will post 4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

CCB has been the subject of several analyst reports. Hovde Group decreased their target price on shares of Coastal Financial from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Wall Street Zen downgraded shares of Coastal Financial from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Zacks Research downgraded shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Keefe, Bruyette & Woods decreased their target price on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Stephens restated an “overweight” rating and issued a $110.00 target price on shares of Coastal Financial in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Coastal Financial currently has a consensus rating of “Moderate Buy” and an average price target of $122.60.

Read Our Latest Stock Report on Coastal Financial

Institutional Trading of Coastal Financial

Several institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in Coastal Financial by 16,937.6% in the first quarter. PNC Financial Services Group Inc. now owns 32,201 shares of the company’s stock valued at $2,450,000 after acquiring an additional 32,012 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Coastal Financial by 7.6% in the first quarter. Dimensional Fund Advisors LP now owns 359,571 shares of the company’s stock valued at $27,361,000 after acquiring an additional 25,424 shares in the last quarter. Arcus Capital Partners LLC raised its holdings in Coastal Financial by 37.1% in the first quarter. Arcus Capital Partners LLC now owns 17,636 shares of the company’s stock valued at $1,342,000 after acquiring an additional 4,771 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in Coastal Financial by 45.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 156,664 shares of the company’s stock valued at $11,922,000 after acquiring an additional 48,927 shares in the last quarter. Finally, Emerald Advisers LLC raised its holdings in Coastal Financial by 44.8% in the first quarter. Emerald Advisers LLC now owns 221,182 shares of the company’s stock valued at $16,832,000 after acquiring an additional 68,427 shares in the last quarter. 59.24% of the stock is owned by institutional investors and hedge funds.

Coastal Financial Company Profile

(Get Free Report)

Coastal Financial Corporation is a bank holding company whose principal subsidiary, Coastal Community Bank, provides a full range of community banking services to clients along North Carolina’s central and eastern coastline. The company focuses on delivering personalized relationship banking to individuals, small businesses, and local professionals in seaside and inland communities.

Through Coastal Community Bank, Coastal Financial offers deposit products including checking, savings, money market accounts and certificates of deposit.

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