Coastal Financial (NASDAQ:CCB) Price Target Raised to $114.00

Coastal Financial (NASDAQ:CCB) had its target price upped by Keefe, Bruyette & Woods from $96.00 to $114.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also weighed in on CCB. Raymond James reaffirmed a “strong-buy” rating and issued a $100.00 target price (up from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Stephens reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Coastal Financial in a report on Thursday, February 13th.

Coastal Financial Trading Down 4.2 %

NASDAQ CCB opened at $87.11 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. Coastal Financial has a one year low of $35.67 and a one year high of $102.25. The company has a 50-day simple moving average of $87.70 and a 200-day simple moving average of $71.90. The firm has a market capitalization of $1.18 billion, a PE ratio of 26.80 and a beta of 1.21.

Coastal Financial (NASDAQ:CCB) last issued its earnings results on Tuesday, February 4th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.09). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. On average, equities analysts forecast that Coastal Financial will post 4.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CCB. T. Rowe Price Investment Management Inc. lifted its holdings in Coastal Financial by 47.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,322,325 shares of the company’s stock worth $112,279,000 after purchasing an additional 423,864 shares during the period. Wellington Management Group LLP lifted its stake in shares of Coastal Financial by 1,067.9% in the 4th quarter. Wellington Management Group LLP now owns 456,887 shares of the company’s stock worth $38,794,000 after acquiring an additional 417,767 shares during the period. Azora Capital LP acquired a new stake in shares of Coastal Financial in the 4th quarter worth approximately $33,794,000. Driehaus Capital Management LLC bought a new position in shares of Coastal Financial in the fourth quarter valued at approximately $8,170,000. Finally, Westwood Holdings Group Inc. acquired a new position in shares of Coastal Financial during the fourth quarter valued at approximately $7,620,000. Institutional investors own 59.24% of the company’s stock.

Coastal Financial Company Profile

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.