Coastal Financial Co. (NASDAQ:CCB – Get Free Report) Director Steven D. Hovde sold 2,050 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $53.51, for a total value of $109,695.50. Following the sale, the director now directly owns 21,950 shares of the company’s stock, valued at $1,174,544.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Coastal Financial Stock Performance
Shares of CCB stock traded down $0.11 on Monday, hitting $51.56. 36,506 shares of the stock were exchanged, compared to its average volume of 56,999. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $691.88 million, a PE ratio of 18.13 and a beta of 1.24. Coastal Financial Co. has a one year low of $35.67 and a one year high of $54.00. The firm’s 50 day moving average is $50.73 and its two-hundred day moving average is $44.85.
Coastal Financial (NASDAQ:CCB – Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Coastal Financial had a return on equity of 13.34% and a net margin of 6.07%. The company had revenue of $167.41 million during the quarter, compared to the consensus estimate of $168.30 million. Sell-side analysts expect that Coastal Financial Co. will post 3.52 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on CCB. Hovde Group raised their target price on Coastal Financial from $55.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods upgraded Coastal Financial to a “moderate buy” rating in a research note on Tuesday, July 30th.
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.
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