Eric M. Sprink Sells 1,000 Shares of Coastal Financial Co. (NASDAQ:CCB) Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 1,000 shares of Coastal Financial stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $63.11, for a total transaction of $63,110.00. Following the completion of the sale, the chief executive officer now owns 250,388 shares of the company’s stock, valued at $15,801,986.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Coastal Financial Trading Down 0.8 %

Shares of CCB stock opened at $70.32 on Friday. The firm has a market capitalization of $946.51 million, a P/E ratio of 23.68 and a beta of 1.22. Coastal Financial Co. has a twelve month low of $35.67 and a twelve month high of $72.96. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $55.88 and its 200 day simple moving average is $49.53.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $185.15 million for the quarter, compared to analyst estimates of $154.30 million. Coastal Financial had a return on equity of 14.16% and a net margin of 5.98%. As a group, sell-side analysts predict that Coastal Financial Co. will post 3.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CCB. BNP Paribas Financial Markets lifted its holdings in Coastal Financial by 18.0% during the 1st quarter. BNP Paribas Financial Markets now owns 11,572 shares of the company’s stock worth $450,000 after buying an additional 1,766 shares during the period. Vanguard Group Inc. lifted its stake in shares of Coastal Financial by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 598,601 shares of the company’s stock valued at $23,268,000 after purchasing an additional 5,592 shares during the period. EntryPoint Capital LLC lifted its stake in shares of Coastal Financial by 642.4% in the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock valued at $65,000 after purchasing an additional 1,439 shares during the period. Quadrature Capital Ltd acquired a new position in Coastal Financial during the 1st quarter worth approximately $207,000. Finally, Kennedy Capital Management LLC raised its stake in Coastal Financial by 3.1% during the 1st quarter. Kennedy Capital Management LLC now owns 275,383 shares of the company’s stock worth $10,704,000 after buying an additional 8,230 shares during the period. 59.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCB has been the subject of a number of recent research reports. Hovde Group boosted their price objective on shares of Coastal Financial from $67.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Coastal Financial from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Raymond James upped their price target on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th.

Coastal Financial Company Profile

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.