Coastal Financial Co. (NASDAQ:CCB) CEO Sells $318,540.00 in Stock

by · The Markets Daily

Coastal Financial Co. (NASDAQ:CCB – Get Free Report) CEO Eric M. Sprink sold 6,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the sale, the chief executive officer now owns 297,285 shares of the company’s stock, valued at approximately $15,782,860.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Coastal Financial Trading Up 0.2 %

Shares of CCB opened at $53.81 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50-day moving average price of $50.88 and a 200 day moving average price of $46.19. Coastal Financial Co. has a one year low of $35.67 and a one year high of $55.00. The company has a market capitalization of $722.08 million, a P/E ratio of 18.81 and a beta of 1.24.

Coastal Financial (NASDAQ:CCB – Get Free Report) last released its earnings results on Monday, July 29th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coastal Financial had a return on equity of 13.34% and a net margin of 6.07%. The company had revenue of $167.41 million for the quarter, compared to the consensus estimate of $168.30 million. Sell-side analysts forecast that Coastal Financial Co. will post 3.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Hovde Group increased their price target on Coastal Financial from $55.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods raised Coastal Financial to a “moderate buy” rating in a report on Tuesday, July 30th.

Get Our Latest Report on Coastal Financial

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CCB. 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 during the last quarter. First Bank & Trust lifted its holdings in shares of Coastal Financial by 3.6% in the 1st quarter. First Bank & Trust now owns 21,767 shares of the company’s stock worth $846,000 after purchasing an additional 761 shares during the last quarter. Norden Group LLC bought a new stake in shares of Coastal Financial in the 1st quarter worth approximately $1,488,000. Diversify Advisory Services LLC bought a new stake in shares of Coastal Financial in the 1st quarter worth approximately $714,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Coastal Financial by 18.0% in the 1st quarter. BNP Paribas Financial Markets now owns 11,572 shares of the company’s stock worth $450,000 after purchasing an additional 1,766 shares during the last quarter. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Company Profile

(Get Free Report)

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.

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