Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink Sells 3,000 Shares

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 3,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $57.67, for a total value of $173,010.00. Following the sale, the chief executive officer now directly owns 286,285 shares in the company, valued at $16,510,055.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Coastal Financial Trading Up 1.4 %

CCB opened at $59.00 on Thursday. The stock has a market capitalization of $791.72 million, a P/E ratio of 20.63 and a beta of 1.24. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. Coastal Financial Co. has a 12 month low of $35.67 and a 12 month high of $59.58. The firm’s fifty day simple moving average is $51.73 and its 200 day simple moving average is $46.86.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $167.41 million for the quarter, compared to analyst estimates of $168.30 million. Coastal Financial had a return on equity of 13.34% and a net margin of 6.07%. As a group, research analysts anticipate that Coastal Financial Co. will post 3.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCB has been the subject of several recent analyst reports. Hovde Group increased their price target on Coastal Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods raised Coastal Financial to a “moderate buy” rating in a research note on Tuesday, July 30th.

Hedge Funds Weigh In On Coastal Financial

Several hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in shares of Coastal Financial by 2.9% in the 2nd quarter. Parallel Advisors LLC now owns 8,005 shares of the company’s stock valued at $369,000 after acquiring an additional 227 shares in the last quarter. Riverwater Partners LLC boosted its position in Coastal Financial by 6.4% during the second quarter. Riverwater Partners LLC now owns 8,265 shares of the company’s stock valued at $381,000 after purchasing an additional 494 shares during the last quarter. Cox Capital Mgt LLC grew its stake in Coastal Financial by 1.6% in the first quarter. Cox Capital Mgt LLC now owns 36,010 shares of the company’s stock valued at $1,400,000 after purchasing an additional 556 shares in the last quarter. nVerses Capital LLC increased its position in shares of Coastal Financial by 300.0% during the 3rd quarter. nVerses Capital LLC now owns 800 shares of the company’s stock worth $43,000 after purchasing an additional 600 shares during the last quarter. Finally, First Bank & Trust raised its stake in shares of Coastal Financial by 3.6% during the 1st quarter. First Bank & Trust now owns 21,767 shares of the company’s stock worth $846,000 after purchasing an additional 761 shares in the last quarter. 59.24% of the stock is owned by institutional investors.

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.