Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink Sells 11,407 Shares

Coastal Financial Co. (NASDAQ:CCBGet Rating) CEO Eric M. Sprink sold 11,407 shares of the stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $48.77, for a total value of $556,319.39. Following the sale, the chief executive officer now directly owns 335,788 shares in the company, valued at approximately $16,376,380.76. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Coastal Financial Price Performance

CCB opened at $48.93 on Friday. The stock’s 50 day simple moving average is $43.64 and its 200 day simple moving average is $40.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.05 and a quick ratio of 1.03. Coastal Financial Co. has a 1 year low of $35.61 and a 1 year high of $54.41. The firm has a market cap of $634.13 million, a price-to-earnings ratio of 18.75 and a beta of 1.15.

Coastal Financial (NASDAQ:CCBGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.82 earnings per share for the quarter. The firm had revenue of $83.58 million for the quarter. Coastal Financial had a return on equity of 16.27% and a net margin of 13.99%. As a group, analysts predict that Coastal Financial Co. will post 2.84 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on CCB shares. Stephens increased their price objective on Coastal Financial to $54.00 in a research report on Friday, November 4th. Raymond James started coverage on Coastal Financial in a research report on Friday, October 28th. They set a “strong-buy” rating on the stock. Finally, Hovde Group increased their price objective on Coastal Financial to $66.00 in a research report on Tuesday, November 1st.

Institutional Investors Weigh In On Coastal Financial

A number of large investors have recently made changes to their positions in the business. Endeavour Capital Advisors Inc. grew its position in shares of Coastal Financial by 0.7% in the 1st quarter. Endeavour Capital Advisors Inc. now owns 718,561 shares of the company’s stock worth $32,874,000 after buying an additional 4,819 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Coastal Financial by 0.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 678,224 shares of the company’s stock worth $31,029,000 after buying an additional 3,336 shares during the last quarter. BlackRock Inc. grew its position in shares of Coastal Financial by 1.4% in the 3rd quarter. BlackRock Inc. now owns 639,387 shares of the company’s stock worth $25,410,000 after buying an additional 8,969 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Coastal Financial by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 459,351 shares of the company’s stock worth $21,015,000 after buying an additional 14,256 shares during the last quarter. Finally, HighTower Trust Services LTA bought a new stake in shares of Coastal Financial in the 2nd quarter worth approximately $17,172,000. 61.07% of the stock is currently owned by institutional investors.

Coastal Financial Company Profile

(Get Rating)

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small to 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.

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