Stephens Reaffirms Overweight Rating for Coastal Financial (NASDAQ:CCB)

Coastal Financial (NASDAQ:CCB)‘s stock had its “overweight” rating reissued by Stephens in a report released on Tuesday,Benzinga reports. They presently have a $100.00 price objective on the stock. Stephens’ price target points to a potential upside of 18.43% from the company’s previous close.

Other research analysts have also issued research reports about the company. Raymond James reissued a “strong-buy” rating and issued a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price objective on Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th.

Coastal Financial Stock Performance

NASDAQ:CCB opened at $84.44 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $87.45 and its 200 day simple moving average is $74.01. The stock has a market cap of $1.14 billion, a P/E ratio of 25.98 and a beta of 1.21. Coastal Financial has a twelve month low of $36.60 and a twelve month high of $102.25.

Coastal Financial (NASDAQ:CCB) last announced its earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share 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%. As a group, research analysts predict that Coastal Financial will post 4.59 EPS for the current year.

Hedge Funds Weigh In On Coastal Financial

Several large investors have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new position in Coastal Financial during the 3rd quarter valued at approximately $31,000. Tower Research Capital LLC TRC grew its stake in shares of Coastal Financial by 179.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock worth $61,000 after acquiring an additional 461 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Coastal Financial during the fourth quarter valued at $64,000. FMR LLC raised its position in shares of Coastal Financial by 21.0% in the 3rd quarter. FMR LLC now owns 1,316 shares of the company’s stock worth $71,000 after purchasing an additional 228 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new position in Coastal Financial in the 4th quarter worth about $87,000. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

About Coastal Financial

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.