Coastal Financial (CCB) Projected to Post Earnings on Tuesday

Coastal Financial (NASDAQ:CCB) is anticipated to release its earnings data before the market opens on Tuesday, February 4th. Analysts expect Coastal Financial to post earnings of $1.03 per share for the quarter.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings data 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. The business had revenue of $185.15 million for the quarter, compared to analyst estimates of $154.30 million. Coastal Financial had a return on equity of 13.86% and a net margin of 5.98%. On average, analysts expect Coastal Financial to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Coastal Financial Price Performance

Coastal Financial stock opened at $84.14 on Tuesday. The stock has a 50-day moving average price of $81.02 and a two-hundred day moving average price of $64.22. Coastal Financial has a 12 month low of $35.67 and a 12 month high of $88.60. The company has a market capitalization of $1.14 billion, a PE ratio of 28.33 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 0.14.

Insider Buying and Selling at Coastal Financial

In other Coastal Financial news, EVP Jonathan E. Sand sold 1,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $74.15, for a total transaction of $74,150.00. Following the completion of the sale, the executive vice president now directly owns 19,611 shares in the company, valued at approximately $1,454,155.65. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric M. Sprink sold 3,482 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $71.14, for a total value of $247,709.48. Following the completion of the transaction, the chief executive officer now directly owns 244,906 shares in the company, valued at $17,422,612.84. This represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,482 shares of company stock valued at $988,379. 16.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CCB shares. Raymond James lifted their target price on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Hovde Group lifted their price target on shares of Coastal Financial from $67.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods raised their target price on Coastal Financial from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th.

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.