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

Stephens restated their overweight rating on shares of Coastal Financial (NASDAQ:CCB) in a report published on Thursday,Benzinga reports. Stephens currently has a $100.00 price target on the stock.

CCB has been the topic of several other reports. Hovde Group lifted their price target on Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Raymond James reissued a “strong-buy” rating and set a $100.00 price objective (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Coastal Financial from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th.

Coastal Financial Stock Up 0.8 %

Shares of NASDAQ CCB opened at $89.97 on Thursday. The firm has a fifty day simple moving average of $84.46 and a two-hundred day simple moving average of $67.75. Coastal Financial has a 12 month low of $35.67 and a 12 month high of $91.39. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.22 billion, a PE ratio of 27.68 and a beta of 1.23.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. Equities analysts expect that Coastal Financial will post 4.59 earnings per share for the current year.

Institutional Investors Weigh In On Coastal Financial

Several hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new position in shares of Coastal Financial in the 3rd quarter worth about $31,000. Tower Research Capital LLC TRC raised its holdings in Coastal Financial by 179.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock worth $61,000 after buying an additional 461 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Coastal Financial in the fourth quarter worth approximately $64,000. nVerses Capital LLC grew its holdings in shares of Coastal Financial by 300.0% during the third quarter. nVerses Capital LLC now owns 800 shares of the company’s stock valued at $43,000 after buying an additional 600 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new stake in shares of Coastal Financial during the fourth quarter valued at approximately $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.