Coastal Financial Corporation (NASDAQ:CCB) Given Consensus Rating of “Moderate Buy” by Analysts

Coastal Financial Corporation (NASDAQ:CCB) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $122.60.

A number of brokerages have recently commented on CCB. TD Cowen decreased their price target on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Weiss Ratings lowered shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Zacks Research lowered shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Stephens reaffirmed an “overweight” rating and set a $110.00 target price on shares of Coastal Financial in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, May 1st.

Coastal Financial Price Performance

Shares of NASDAQ:CCB opened at $71.34 on Tuesday. The company’s fifty day moving average price is $76.12 and its 200-day moving average price is $91.87. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 22.36 and a beta of 0.72. Coastal Financial has a one year low of $66.50 and a one year high of $120.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). The company had revenue of $56.30 million during the quarter, compared to the consensus estimate of $138.63 million. Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%. On average, equities research analysts anticipate that Coastal Financial will post 4.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coastal Financial

Several institutional investors and hedge funds have recently made changes to their positions in CCB. Bank of America Corp DE boosted its position in Coastal Financial by 71.2% during the 1st quarter. Bank of America Corp DE now owns 86,657 shares of the company’s stock valued at $6,595,000 after buying an additional 36,045 shares during the period. The Manufacturers Life Insurance Company boosted its position in Coastal Financial by 1.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 337,819 shares of the company’s stock valued at $25,708,000 after buying an additional 4,611 shares during the period. Quantinno Capital Management LP boosted its position in Coastal Financial by 1,026.9% during the 1st quarter. Quantinno Capital Management LP now owns 25,377 shares of the company’s stock valued at $1,931,000 after buying an additional 23,125 shares during the period. Mendon Capital Advisors Corp boosted its position in Coastal Financial by 86.7% during the 1st quarter. Mendon Capital Advisors Corp now owns 56,000 shares of the company’s stock valued at $4,262,000 after buying an additional 26,000 shares during the period. Finally, Jacobs Asset Management LLC boosted its position in Coastal Financial by 0.8% during the 1st quarter. Jacobs Asset Management LLC now owns 89,146 shares of the company’s stock valued at $6,784,000 after buying an additional 697 shares during the period. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Company Profile

Coastal Financial Corporation is a bank holding company whose principal subsidiary, Coastal Community Bank, provides a full range of community banking services to clients along North Carolina’s central and eastern coastline. The company focuses on delivering personalized relationship banking to individuals, small businesses, and local professionals in seaside and inland communities.

Through Coastal Community Bank, Coastal Financial offers deposit products including checking, savings, money market accounts and certificates of deposit.