Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink Sells 3,482 Shares

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 3,482 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $71.14, for a total value of $247,709.48. Following the sale, the chief executive officer now owns 244,906 shares of the company’s stock, valued at approximately $17,422,612.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Coastal Financial Stock Performance

CCB stock opened at $70.32 on Friday. The stock’s 50 day simple moving average is $55.88 and its 200 day simple moving average is $49.53. Coastal Financial Co. has a 12-month low of $35.67 and a 12-month high of $72.96. The firm has a market cap of $946.51 million, a P/E ratio of 23.68 and a beta of 1.22. 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) last issued its earnings results on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Coastal Financial had a net margin of 5.98% and a return on equity of 14.16%. The company had revenue of $185.15 million for the quarter, compared to analysts’ expectations of $154.30 million. As a group, equities research analysts predict that Coastal Financial Co. will post 3.55 EPS for the current year.

Hedge Funds Weigh In On Coastal Financial

A number of large investors have recently bought and sold shares of the business. 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. increased 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 worth $6,515,000 after acquiring an additional 26,690 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Coastal Financial by 79.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 57,357 shares of the company’s stock worth $3,097,000 after acquiring an additional 25,482 shares during the period. Rosenthal Henry Capital Advisors Inc. lifted its position in Coastal Financial by 214.0% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 30,116 shares of the company’s stock valued at $1,626,000 after purchasing an additional 20,525 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Coastal Financial by 6.0% during 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 period. Institutional investors own 59.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CCB shares. Hovde Group increased their target price on Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Raymond James increased their price objective on shares of Coastal Financial from $61.00 to $73.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Coastal Financial from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th.

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.