Equities research analysts at Raymond James started coverage on shares of Coastal Financial (NASDAQ:CCB) in a report released on Thursday, Analyst Ratings Network reports. The brokerage set a “strong-buy” rating and a $69.00 price target on the stock. Raymond James’ price target points to a potential upside of 32.49% from the company’s previous close.
A number of other research analysts also recently issued reports on CCB. Zacks Investment Research downgraded shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, January 3rd. Keefe, Bruyette & Woods upgraded shares of Coastal Financial from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research report on Monday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $58.33.
Shares of Coastal Financial stock opened at $52.08 on Thursday. The firm has a market capitalization of $625.48 million, a PE ratio of 26.44 and a beta of 1.25. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $47.25 and its 200 day moving average is $36.59. Coastal Financial has a 1 year low of $19.61 and a 1 year high of $54.41.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Mendon Capital Advisors Corp grew its position in Coastal Financial by 541.0% during the third quarter. Mendon Capital Advisors Corp now owns 105,650 shares of the company’s stock valued at $3,366,000 after buying an additional 89,169 shares during the period. Second Curve Capital LLC bought a new position in Coastal Financial during the third quarter valued at about $2,127,000. Vanguard Group Inc. grew its position in Coastal Financial by 12.0% during the second quarter. Vanguard Group Inc. now owns 428,463 shares of the company’s stock valued at $12,236,000 after buying an additional 45,931 shares during the period. BlackRock Inc. grew its position in Coastal Financial by 6.0% during the third quarter. BlackRock Inc. now owns 523,052 shares of the company’s stock valued at $16,665,000 after buying an additional 29,431 shares during the period. Finally, JCSD Capital LLC grew its position in Coastal Financial by 90.3% during the third quarter. JCSD Capital LLC now owns 37,127 shares of the company’s stock valued at $1,183,000 after buying an additional 17,615 shares during the period. Hedge funds and other institutional investors own 54.09% of the company’s stock.
Coastal Financial Company Profile
Coastal Financial Corp. operates as a bank holding company. The firm through Coastal Community Bank, provides banking products and services to small and medium-sized businesses, professionals, and individuals. It also offers deposit products. The company was founded by Lee Pintar on July 9, 2003 and is headquartered in Everett, WA.
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