Coastal Financial’s (CCB) “Overweight” Rating Reiterated at Stephens

Coastal Financial (NASDAQ:CCB)‘s stock had its “overweight” rating reaffirmed by Stephens in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $100.00 target price on the stock. Stephens’ price objective points to a potential upside of 20.74% from the company’s previous close.

A number of other research analysts also recently commented on CCB. Raymond James reissued a “strong-buy” rating and issued a $100.00 price objective (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price target 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 NASDAQ CCB opened at $82.82 on Tuesday. The company has a fifty day moving average price of $87.45 and a 200 day moving average price of $73.73. The firm has a market cap of $1.12 billion, a PE ratio of 25.48 and a beta of 1.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial has a 1-year low of $35.90 and a 1-year high of $102.25.

Coastal Financial (NASDAQ:CCB) last announced 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%. Research analysts predict that Coastal Financial will post 4.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of Coastal Financial in the third quarter valued at approximately $31,000. Tower Research Capital LLC TRC boosted its stake in Coastal Financial by 179.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock valued at $61,000 after purchasing an additional 461 shares during the period. Meeder Asset Management Inc. acquired a new position in Coastal Financial in the 4th quarter valued at $64,000. FMR LLC increased its position in Coastal Financial by 21.0% during the 3rd quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after buying an additional 228 shares during the period. Finally, New York State Teachers Retirement System bought a new position in Coastal Financial during the 4th quarter worth $87,000. 59.24% of the stock is owned by 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.