Coastal Financial (NASDAQ:CCB) Given “Overweight” Rating at Stephens

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

A number of other brokerages have also weighed in on CCB. Keefe, Bruyette & Woods raised their price objective on Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Raymond James reissued a “strong-buy” rating and issued a $100.00 price target (up from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th.

Coastal Financial Stock Up 0.8 %

CCB stock opened at $83.75 on Tuesday. Coastal Financial has a one year low of $35.90 and a one year high of $102.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s fifty day moving average is $87.44 and its 200 day moving average is $73.94. The firm has a market cap of $1.13 billion, a PE ratio of 25.77 and a beta of 1.21.

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

Institutional Trading of Coastal Financial

Large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its position in shares of Coastal Financial by 1.9% during the 4th quarter. First Trust Advisors LP now owns 8,297 shares of the company’s stock valued at $704,000 after acquiring an additional 156 shares during the last quarter. FMR LLC raised its stake in Coastal Financial by 21.0% during the third quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after purchasing an additional 228 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Coastal Financial by 5.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,459 shares of the company’s stock valued at $548,000 after purchasing an additional 343 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Coastal Financial by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 45,886 shares of the company’s stock valued at $3,896,000 after buying an additional 400 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Coastal Financial by 179.4% during the 4th 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. 59.24% of the stock is currently owned by hedge funds and other 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.