Eric Sprink Sells 4,000 Shares of Coastal Financial (NASDAQ:CCB) Stock

Coastal Financial Corporation (NASDAQ:CCB) CEO Eric Sprink sold 4,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $116.01, for a total value of $464,040.00. Following the completion of the transaction, the chief executive officer owned 159,126 shares in the company, valued at $18,460,207.26. The trade was a 2.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Coastal Financial Price Performance

CCB traded down $2.60 on Friday, hitting $113.17. 38,313 shares of the stock were exchanged, compared to its average volume of 109,903. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 35.81 and a beta of 0.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.05. Coastal Financial Corporation has a 12 month low of $76.11 and a 12 month high of $120.05. The business has a 50-day moving average of $112.64 and a two-hundred day moving average of $108.55.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). Coastal Financial had a net margin of 7.14% and a return on equity of 10.45%. The firm had revenue of $52.89 million for the quarter, compared to analyst estimates of $133.44 million. Sell-side analysts forecast that Coastal Financial Corporation will post 4.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCB. TD Cowen reiterated a “buy” rating on shares of Coastal Financial in a report on Friday, December 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Coastal Financial in a research report on Monday, December 29th. Zacks Research upgraded Coastal Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, UBS Group set a $155.00 target price on shares of Coastal Financial in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $125.17.

Institutional Investors Weigh In On Coastal Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CCB. State of Alaska Department of Revenue purchased a new position in shares of Coastal Financial in the 3rd quarter worth about $64,000. Russell Investments Group Ltd. grew its holdings in Coastal Financial by 229.5% during the second quarter. Russell Investments Group Ltd. now owns 827 shares of the company’s stock valued at $80,000 after purchasing an additional 576 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Coastal Financial by 634.4% in the third quarter. Farther Finance Advisors LLC now owns 896 shares of the company’s stock valued at $97,000 after buying an additional 774 shares during the period. USA Financial Formulas purchased a new stake in Coastal Financial in the 3rd quarter worth about $102,000. Finally, First Horizon Corp bought a new stake in Coastal Financial in the 3rd quarter valued at about $122,000. 59.24% of the stock is owned by institutional investors.

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.