Coastal Financial (NASDAQ:CCB) CFO Joel Edwards Sells 1,300 Shares

Coastal Financial Corporation (NASDAQ:CCB) CFO Joel Edwards sold 1,300 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $111.34, for a total value of $144,742.00. Following the sale, the chief financial officer owned 11,462 shares of the company’s stock, valued at $1,276,179.08. This represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Coastal Financial Stock Down 3.5%

Shares of NASDAQ:CCB traded down $3.63 during trading on Wednesday, hitting $100.95. The company’s stock had a trading volume of 153,514 shares, compared to its average volume of 109,608. The company has a market capitalization of $1.53 billion, a PE ratio of 31.95 and a beta of 0.89. Coastal Financial Corporation has a fifty-two week low of $76.11 and a fifty-two week high of $120.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.06. The stock’s 50-day moving average price is $112.93 and its two-hundred day moving average price is $108.71.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). The business had revenue of $52.89 million for the quarter, compared to analysts’ expectations of $133.44 million. Coastal Financial had a return on equity of 10.45% and a net margin of 7.14%. As a group, sell-side analysts expect that Coastal Financial Corporation will post 4.59 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CCB. Weiss Ratings reiterated a “buy (b-)” rating on shares of Coastal Financial in a research report on Monday, December 29th. UBS Group set a $155.00 price objective on Coastal Financial in a research note on Friday, December 5th. Finally, TD Cowen reiterated a “buy” rating on shares of Coastal Financial in a research note on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $125.17.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new position in shares of Coastal Financial during the third quarter valued at $64,000. Russell Investments Group Ltd. boosted its position in Coastal Financial by 229.5% during the 2nd 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. Farther Finance Advisors LLC grew its stake in Coastal Financial by 634.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 896 shares of the company’s stock valued at $97,000 after acquiring an additional 774 shares in the last quarter. USA Financial Formulas purchased a new position in Coastal Financial during the 3rd quarter valued at about $102,000. Finally, First Horizon Corp acquired a new position in shares of Coastal Financial in the 3rd quarter valued at about $122,000. Institutional investors own 59.24% of the company’s stock.

About Coastal Financial

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.