Coastal Financial (NASDAQ:CCB) Price Target Lowered to $110.00 at Hovde Group

Coastal Financial (NASDAQ:CCB) had its target price dropped by Hovde Group from $120.00 to $110.00 in a research report issued on Wednesday,Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the stock. Hovde Group’s price objective indicates a potential upside of 26.15% from the company’s current price.

Several other analysts also recently commented on the stock. Raymond James reaffirmed a “strong-buy” rating on shares of Coastal Financial in a research report on Wednesday, April 2nd. Stephens reiterated an “overweight” rating and issued a $100.00 target price on shares of Coastal Financial in a research note on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th.

Coastal Financial Stock Down 0.9 %

Shares of NASDAQ CCB opened at $87.20 on Wednesday. Coastal Financial has a 1 year low of $37.51 and a 1 year high of $102.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $1.31 billion, a PE ratio of 26.83 and a beta of 1.00. The company has a 50 day simple moving average of $86.33 and a 200 day simple moving average of $80.99.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings results 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.

Insider Activity at Coastal Financial

In other Coastal Financial news, Director Gregory A. Tisdel sold 1,600 shares of the firm’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $79.07, for a total transaction of $126,512.00. Following the sale, the director now owns 14,006 shares in the company, valued at $1,107,454.42. This trade represents a 10.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.82% of the stock is owned by corporate insiders.

Institutional Trading of Coastal Financial

A number of hedge funds have recently bought and sold shares of CCB. Tower Research Capital LLC TRC grew its holdings in Coastal Financial by 179.4% in 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 during the last quarter. Meeder Asset Management Inc. bought a new position in Coastal Financial during the 4th quarter valued at approximately $64,000. New York State Teachers Retirement System purchased a new stake in shares of Coastal Financial in the fourth quarter worth $87,000. USA Financial Formulas bought a new position in shares of Coastal Financial during the fourth quarter valued at $122,000. Finally, Ameriflex Group Inc. bought a new position in Coastal Financial in the 4th quarter worth about $172,000. 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.