Coastal Financial Co. (NASDAQ:CCB) CEO Sells $141,900.00 in Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 2,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $70.95, for a total value of $141,900.00. Following the transaction, the chief executive officer now owns 240,388 shares in the company, valued at $17,055,528.60. This represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Coastal Financial Stock Performance

CCB stock opened at $73.30 on Friday. The business’s fifty day moving average is $57.88 and its 200-day moving average is $50.63. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The company has a market cap of $992.48 million, a P/E ratio of 24.68 and a beta of 1.22. Coastal Financial Co. has a twelve month low of $35.67 and a twelve month high of $74.58.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Monday, October 28th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Coastal Financial had a net margin of 5.98% and a return on equity of 13.86%. The business had revenue of $185.15 million during the quarter, compared to analysts’ expectations of $154.30 million. Equities research analysts forecast that Coastal Financial Co. will post 3.55 EPS for the current year.

Wall Street Analysts Forecast Growth

CCB has been the topic of several analyst reports. Keefe, Bruyette & Woods upped 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, October 29th. Raymond James boosted their target price on Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Hovde Group upped their price objective on Coastal Financial from $67.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th.

Institutional Trading of Coastal Financial

Large investors have recently made changes to their positions in the company. Rosenthal Henry Capital Advisors Inc. increased its holdings in Coastal Financial by 214.0% during the 3rd 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 in the last quarter. Riverwater Partners LLC increased 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 purchasing an additional 30,405 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Coastal Financial by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 58,061 shares of the company’s stock worth $2,679,000 after purchasing an additional 1,956 shares in the last quarter. Moss Adams Wealth Advisors LLC bought a new position in shares of Coastal Financial in the 3rd quarter valued at about $1,020,000. Finally, American Century Companies Inc. grew its holdings in shares of Coastal Financial by 23.3% in the 2nd quarter. American Century Companies Inc. now owns 141,203 shares of the company’s stock valued at $6,515,000 after acquiring an additional 26,690 shares in the last quarter. 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.