Coastal Financial (NASDAQ:CCB – Get Free Report) issued its quarterly earnings data on Monday. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03, Zacks reports. Coastal Financial had a net margin of 6.07% and a return on equity of 13.60%. The business had revenue of $167.41 million during the quarter, compared to analysts’ expectations of $168.30 million.
Coastal Financial Stock Performance
NASDAQ:CCB traded down $0.27 during trading hours on Wednesday, hitting $52.70. 266,146 shares of the company traded hands, compared to its average volume of 57,048. The stock has a market capitalization of $707.23 million, a price-to-earnings ratio of 18.52 and a beta of 1.25. Coastal Financial has a twelve month low of $35.67 and a twelve month high of $53.54. The firm has a 50-day moving average of $46.29 and a 200 day moving average of $42.02. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16.
Insider Activity at Coastal Financial
In related news, CFO Joel G. Edwards sold 1,034 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $44.45, for a total transaction of $45,961.30. Following the completion of the transaction, the chief financial officer now directly owns 56,369 shares in the company, valued at approximately $2,505,602.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 16.82% of the company’s stock.
Wall Street Analyst Weigh In
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.
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