Coastal Financial (NASDAQ:CCB) Given New $114.00 Price Target at Keefe, Bruyette & Woods

Coastal Financial (NASDAQ:CCB) had its price objective upped by Keefe, Bruyette & Woods from $96.00 to $114.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently weighed in on CCB. Raymond James restated a “strong-buy” rating and issued a $100.00 price objective (up previously from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Stephens restated an “overweight” rating and issued a $100.00 price objective on shares of Coastal Financial in a report on Thursday, February 13th.

Coastal Financial Price Performance

Coastal Financial stock opened at $92.81 on Tuesday. The company’s 50 day simple moving average is $87.50 and its 200-day simple moving average is $71.66. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 28.56 and a beta of 1.23. Coastal Financial has a 1 year low of $35.67 and a 1 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.

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 net margin of 6.43% and a return on equity of 14.98%. As a group, equities research analysts expect that Coastal Financial will post 4.59 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in Coastal Financial during the 3rd quarter worth approximately $31,000. Tower Research Capital LLC TRC grew its holdings in 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 acquiring an additional 461 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Coastal Financial during the 4th quarter worth approximately $64,000. New York State Teachers Retirement System acquired a new position in Coastal Financial during the 4th quarter worth approximately $87,000. Finally, FMR LLC boosted its holdings in shares of Coastal Financial by 21.0% in the 3rd quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

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.