Coastal Financial Corporation (NASDAQ:CCB) Given Consensus Rating of “Moderate Buy” by Analysts

Coastal Financial Corporation (NASDAQ:CCB) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $122.60.

A number of equities research analysts have recently issued reports on CCB shares. Wall Street Zen raised shares of Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Coastal Financial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. TD Cowen lowered their price target on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Keefe, Bruyette & Woods cut their price target on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coastal Financial in a research note on Monday, June 29th.

Institutional Investors Weigh In On Coastal Financial

Several institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in Coastal Financial by 129.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock worth $34,000 after purchasing an additional 169 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Coastal Financial in the fourth quarter valued at approximately $50,000. Smartleaf Asset Management LLC lifted its position in Coastal Financial by 20,700.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $72,000 after purchasing an additional 621 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Coastal Financial by 229.5% during the second quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock valued at $80,000 after purchasing 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 second quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the company’s stock valued at $122,000 after purchasing an additional 1,059 shares during the period. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

Coastal Financial Stock Up 0.9%

Shares of CCB opened at $73.00 on Wednesday. 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. The stock has a 50 day simple moving average of $74.10 and a two-hundred day simple moving average of $81.11. The firm has a market cap of $1.11 billion, a P/E ratio of 22.88 and a beta of 0.72.

Coastal Financial (NASDAQ:CCB) 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 for the quarter, compared to analysts’ expectations of $138.63 million. Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%. On average, analysts forecast that Coastal Financial will post 4.57 earnings per share for the current fiscal year.

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.