Stephens Reiterates “Overweight” Rating for Coastal Financial (NASDAQ:CCB)

Stephens reaffirmed their overweight rating on shares of Coastal Financial (NASDAQ:CCB) in a research note released on Tuesday morning,Benzinga reports. Stephens currently has a $100.00 price objective on the stock.

Several other analysts also recently commented on CCB. Keefe, Bruyette & Woods raised their price objective on shares of Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Raymond James restated a “strong-buy” rating and set a $100.00 price objective (up from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th.

Coastal Financial Stock Up 0.7 %

CCB opened at $85.03 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. Coastal Financial has a 1-year low of $36.60 and a 1-year high of $102.25. The company has a market capitalization of $1.15 billion, a PE ratio of 26.16 and a beta of 1.21. The firm’s 50 day simple moving average is $87.47 and its two-hundred day simple moving average is $74.09.

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

Institutional Trading of Coastal Financial

Several institutional investors and hedge funds have recently modified their holdings of CCB. Principal Financial Group Inc. purchased a new position in Coastal Financial during the third quarter valued at $377,000. Barclays PLC grew its stake in Coastal Financial by 60.0% during the third quarter. Barclays PLC now owns 31,804 shares of the company’s stock valued at $1,719,000 after acquiring an additional 11,922 shares in the last quarter. PDT Partners LLC purchased a new position in Coastal Financial during the third quarter valued at $650,000. Charles Schwab Investment Management Inc. grew its stake in Coastal Financial by 188.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company’s stock valued at $4,967,000 after acquiring an additional 60,106 shares in the last quarter. Finally, State Street Corp grew its stake in Coastal Financial by 2.4% during the third quarter. State Street Corp now owns 314,274 shares of the company’s stock valued at $16,968,000 after acquiring an additional 7,386 shares in the last quarter. 59.24% of the stock is currently owned by institutional investors.

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.