Coastal Financial Co. (NASDAQ:CCB) CEO Sells $222,337.05 in Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 3,705 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $60.01, for a total value of $222,337.05. Following the completion of the transaction, the chief executive officer now directly owns 275,683 shares of the company’s stock, valued at approximately $16,543,736.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Coastal Financial Price Performance

NASDAQ:CCB opened at $58.45 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The firm has a market cap of $784.34 million, a PE ratio of 20.44 and a beta of 1.24. Coastal Financial Co. has a 12 month low of $35.67 and a 12 month high of $61.22. The company’s 50-day moving average price is $53.38 and its two-hundred day moving average price is $47.83.

Coastal Financial (NASDAQ:CCB) last released its quarterly 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 business had revenue of $167.41 million for the quarter, compared to analyst estimates of $168.30 million. On average, equities analysts anticipate that Coastal Financial Co. will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCB. Keefe, Bruyette & Woods upgraded shares of Coastal Financial to a “moderate buy” rating in a research note on Tuesday, July 30th. Hovde Group upped their price target on Coastal Financial from $55.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CCB. Parallel Advisors LLC boosted its holdings in Coastal Financial by 2.9% in the second quarter. Parallel Advisors LLC now owns 8,005 shares of the company’s stock valued at $369,000 after acquiring an additional 227 shares during the last quarter. Riverwater Partners LLC raised its stake in shares of Coastal Financial by 6.4% during the second quarter. Riverwater Partners LLC now owns 8,265 shares of the company’s stock worth $381,000 after buying an additional 494 shares during the last quarter. nVerses Capital LLC boosted its stake in Coastal Financial by 300.0% in the third quarter. nVerses Capital LLC now owns 800 shares of the company’s stock valued at $43,000 after acquiring an additional 600 shares during the last quarter. First Bank & Trust grew its position 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 valued at $846,000 after purchasing an additional 761 shares during the period. Finally, EntryPoint Capital LLC increased its stake in Coastal Financial by 642.4% during the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock worth $65,000 after purchasing an additional 1,439 shares in the last quarter. 59.24% of the stock is 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.