Hovde Group Trims Coastal Financial (NASDAQ:CCB) Target Price to $55.00

Coastal Financial (NASDAQ:CCB) had its price target reduced by Hovde Group from $57.50 to $55.00 in a research report report published on Friday, MarketBeat.com reports. They currently have an outperform rating on the stock.

Coastal Financial Stock Performance

NASDAQ:CCB opened at $41.89 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $38.43 and a 200-day moving average of $40.11. Coastal Financial has a 1 year low of $32.20 and a 1 year high of $48.50. The stock has a market capitalization of $560.91 million, a P/E ratio of 14.65 and a beta of 1.16.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Coastal Financial by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 46,146 shares of the company’s stock worth $1,980,000 after buying an additional 550 shares in the last quarter. Cox Capital Mgt LLC lifted its holdings in Coastal Financial by 1.6% during the 1st quarter. Cox Capital Mgt LLC now owns 36,010 shares of the company’s stock worth $1,400,000 after buying an additional 556 shares in the last quarter. Barclays PLC lifted its holdings in Coastal Financial by 3.9% during the 3rd quarter. Barclays PLC now owns 16,825 shares of the company’s stock worth $722,000 after buying an additional 636 shares in the last quarter. First Bank & Trust lifted its holdings in Coastal Financial by 3.6% during the 1st quarter. First Bank & Trust now owns 21,767 shares of the company’s stock worth $846,000 after buying an additional 761 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Coastal Financial by 59.8% during the 4th quarter. SG Americas Securities LLC now owns 3,978 shares of the company’s stock worth $177,000 after buying an additional 1,489 shares in the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

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.