Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink Sells 7,000 Shares of Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 7,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $52.02, for a total value of $364,140.00. Following the sale, the chief executive officer now owns 302,689 shares of the company’s stock, valued at $15,745,881.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Coastal Financial Stock Up 5.0 %

Shares of NASDAQ:CCB opened at $53.52 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. Coastal Financial Co. has a 52-week low of $35.67 and a 52-week high of $54.00. The company has a market capitalization of $718.18 million, a PE ratio of 18.71 and a beta of 1.24. The company has a fifty day moving average of $50.54 and a 200-day moving average of $44.60.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coastal Financial had a return on equity of 13.34% and a net margin of 6.07%. The firm had revenue of $167.41 million for the quarter, compared to analyst estimates of $168.30 million. On average, equities analysts predict that Coastal Financial Co. will post 3.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CCB. Hovde Group upped their price objective on Coastal Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods raised shares of Coastal Financial to a “moderate buy” rating in a report on Tuesday, July 30th.

Institutional Trading of Coastal Financial

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC increased its stake in shares of Coastal Financial by 2.9% in the second quarter. Parallel Advisors LLC now owns 8,005 shares of the company’s stock valued at $369,000 after buying an additional 227 shares during the period. Riverwater Partners LLC lifted its position in shares of Coastal Financial by 6.4% in the 2nd quarter. Riverwater Partners LLC now owns 8,265 shares of the company’s stock worth $381,000 after purchasing an additional 494 shares during the period. Cox Capital Mgt LLC boosted its stake in shares of Coastal Financial by 1.6% in the 1st quarter. Cox Capital Mgt LLC now owns 36,010 shares of the company’s stock valued at $1,400,000 after purchasing an additional 556 shares during the last quarter. First Bank & Trust raised its stake in Coastal Financial by 3.6% during the first quarter. First Bank & Trust now owns 21,767 shares of the company’s stock worth $846,000 after buying an additional 761 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in Coastal Financial by 642.4% in the first quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock valued at $65,000 after buying an additional 1,439 shares during the period. 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.