Coastal Financial Corporation (NASDAQ:CCB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Coastal Financial Corporation (NASDAQ:CCBGet Free Report) have earned an average rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $122.60.

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Coastal Financial in a report on Monday. Stephens reaffirmed an “overweight” rating and set a $110.00 target price on shares of Coastal Financial in a report on Friday, May 1st. Zacks Research upgraded Coastal Financial from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price target on Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Finally, Wall Street Zen raised Coastal Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th.

View Our Latest Research Report on CCB

Hedge Funds Weigh In On Coastal Financial

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Coastal Financial by 129.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock worth $34,000 after buying an additional 169 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Coastal Financial in the fourth quarter valued at $50,000. Smartleaf Asset Management LLC raised its position in shares of Coastal Financial by 20,700.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $72,000 after acquiring an additional 621 shares during the period. Russell Investments Group Ltd. raised its position in shares of Coastal Financial by 229.5% in the second quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock worth $80,000 after acquiring an additional 576 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Coastal Financial by 521.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock worth $122,000 after acquiring an additional 1,059 shares in the last quarter. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Coastal Financial Stock Performance

Shares of Coastal Financial stock opened at $78.35 on Friday. The stock has a market cap of $1.19 billion, a PE ratio of 24.56 and a beta of 0.72. The firm has a fifty day moving average price of $73.33 and a 200 day moving average price of $85.98. Coastal Financial has a 1 year low of $66.50 and a 1 year high of $120.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03.

Coastal Financial (NASDAQ:CCBGet Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.24). The business had revenue of $56.30 million during the quarter, compared to analysts’ expectations of $138.63 million. Coastal Financial had a net margin of 7.35% and a return on equity of 10.20%. Equities research analysts predict that Coastal Financial will post 4.56 earnings per share for the current year.

About Coastal Financial

(Get Free Report)

Coastal Financial Corporation is a bank holding company whose principal subsidiary, Coastal Community Bank, provides a full range of community banking services to clients along North Carolina’s central and eastern coastline. The company focuses on delivering personalized relationship banking to individuals, small businesses, and local professionals in seaside and inland communities.

Through Coastal Community Bank, Coastal Financial offers deposit products including checking, savings, money market accounts and certificates of deposit.

Featured Articles

Analyst Recommendations for Coastal Financial (NASDAQ:CCB)

Receive News & Ratings for Coastal Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coastal Financial and related companies with MarketBeat.com's FREE daily email newsletter.