Coastal Financial (NASDAQ:CCB) Price Target Raised to $50.00

Coastal Financial (NASDAQ:CCB) had its price objective raised by TD Cowen from $47.00 to $50.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

CCB has been the subject of several other research reports. Raymond James Financial cut Coastal Financial from a “strong-buy” rating to an “outperform” rating and set a $50.00 price target for the company. in a report on Friday, July 31st. Weiss Ratings downgraded shares of Coastal Financial from a “hold (c)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods reduced their target price on shares of Coastal Financial from $95.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, Zacks Research downgraded shares of Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Coastal Financial presently has a consensus rating of “Hold” and a consensus target price of $91.83.

Coastal Financial Stock Performance

Shares of NASDAQ:CCB opened at $43.29 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.10. The company has a market cap of $661.90 million, a PE ratio of -160.33 and a beta of 0.78. Coastal Financial has a 12-month low of $35.56 and a 12-month high of $120.05. The stock has a 50 day moving average of $44.57 and a 200 day moving average of $68.61.

Coastal Financial (NASDAQ:CCB) last posted its earnings results on Thursday, October 29th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.07). Coastal Financial had a negative net margin of 0.50% and a negative return on equity of 0.75%. The company had revenue of $149.33 million during the quarter, compared to analysts’ expectations of $158.85 million. As a group, equities research analysts expect that Coastal Financial will post 0.85 EPS for the current year.

Insider Buying and Selling at Coastal Financial

In other news, CEO Eric Sprink acquired 10,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were purchased at an average price of $44.45 per share, with a total value of $444,500.00. Following the transaction, the chief executive officer directly owned 173,238 shares in the company, valued at approximately $7,700,429.10. This represents a 6.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Hovde purchased 10,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $43.83 per share, for a total transaction of $438,300.00. Following the completion of the transaction, the director directly owned 26,500 shares in the company, valued at $1,161,495. This trade represents a 60.61% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 25,290 shares of company stock valued at $1,115,894 over the last quarter. Company insiders own 13.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Coastal Financial by 292.2% in the third quarter. Versant Capital Management Inc now owns 655 shares of the company’s stock valued at $26,000 after acquiring an additional 488 shares during the last quarter. First Bank & Trust raised its holdings in Coastal Financial by 5.5% in the 2nd quarter. First Bank & Trust now owns 12,012 shares of the company’s stock valued at $931,000 after acquiring an additional 630 shares during the period. Jacobs Asset Management LLC raised its stake in Coastal Financial by 0.8% during the first quarter. Jacobs Asset Management LLC now owns 89,146 shares of the company’s stock worth $6,784,000 after acquiring an additional 697 shares in the last quarter. Diversify Wealth Management LLC lifted its position in shares of Coastal Financial by 30.9% in the 1st quarter. Diversify Wealth Management LLC now owns 9,232 shares of the company’s stock worth $699,000 after purchasing an additional 2,178 shares during the period. Finally, Madrona Financial Services LLC boosted its position in shares of Coastal Financial by 49.8% during the third quarter. Madrona Financial Services LLC now owns 7,290 shares of the company’s stock valued at $291,000 after buying an additional 2,425 shares during the last quarter. Institutional investors and hedge funds own 59.24% of the company’s stock.

Key Coastal Financial News

Here are the key news stories impacting Coastal Financial this week:

• Positive Sentiment: TD Cowen raised its price target to $50 from $47 and assigned a “Buy” rating, implying approximately 15.5% upside from the referenced $43.29 price. TD Cowen rating and price target
• Positive Sentiment: Management outlined a plan to generate more than $20 million in annualized noninterest-expense savings over the next four to six quarters as Coastal works toward returning to profitability. Growth in its CCBX banking-as-a-service program was also highlighted as a key earnings driver. Coastal Financial cost savings report
• Neutral Sentiment: Coastal Financial reported third-quarter EPS of $0.89 and revenue of $149.33 million. Earnings were close to the year-ago level but missed analyst expectations of $0.96 EPS and $158.85 million in revenue. The company also reported a negative net margin and negative return on equity, increasing investor focus on its profitability turnaround. Coastal Financial third-quarter results
• Negative Sentiment: Several law firms announced or promoted a securities class action alleging violations of federal securities laws involving purchases made between October 28, 2024, and July 29, 2026. Investors seeking lead-plaintiff status face a December 1, 2026 deadline. The litigation creates legal, reputational and potential financial risks for CCB, although the allegations have not been proven. Coastal Financial securities lawsuit announcement

Coastal Financial Company Profile

Coastal Financial Corporation is a bank holding company headquartered in Everett, Washington. Its principal subsidiary, Coastal Community Bank, provides banking services to individuals, families, and businesses in the Pacific Northwest, with a focus on communities in the Puget Sound region.

Coastal Community Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, lines of credit, treasury management, online and mobile banking, and other traditional banking products.