Insider Selling: Coastal Financial Co. (NASDAQ:CCB) CEO Sells 2,000 Shares of Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 2,000 shares of Coastal Financial stock in a transaction on Friday, November 8th. The shares were sold at an average price of $70.95, for a total transaction of $141,900.00. Following the completion of the transaction, the chief executive officer now owns 240,388 shares in the company, valued at approximately $17,055,528.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Coastal Financial Trading Up 0.2 %

Shares of CCB stock traded up $0.12 on Tuesday, reaching $72.51. The company had a trading volume of 80,519 shares, compared to its average volume of 60,513. The company has a 50-day moving average of $56.59 and a 200-day moving average of $50.08. Coastal Financial Co. has a 12 month low of $35.67 and a 12 month high of $74.25. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. The stock has a market cap of $975.98 million, a PE ratio of 24.37 and a beta of 1.22.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $185.15 million for the quarter, compared to analysts’ expectations of $154.30 million. Coastal Financial had a return on equity of 14.16% and a net margin of 5.98%. On average, equities analysts forecast that Coastal Financial Co. will post 3.55 earnings per share for the current year.

Institutional Investors Weigh In On Coastal Financial

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

Analyst Ratings Changes

A number of research firms have weighed in on CCB. Hovde Group increased their price target on shares of Coastal Financial from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Coastal Financial from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Raymond James lifted their price objective on shares of Coastal Financial from $61.00 to $73.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th.

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.