Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Coastal Financial (NASDAQ:CCB) Stock

Coastal Financial (NASDAQ:CCB) had its target price boosted by equities research analysts at Keefe, Bruyette & Woods from $96.00 to $114.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 25.33% from the company’s previous close.

A number of other equities analysts have also recently issued reports on CCB. Raymond James restated a “strong-buy” rating and set a $100.00 price objective (up previously from $88.00) on shares of Coastal Financial in a report on Wednesday, January 29th. Stephens restated an “overweight” rating and set a $100.00 price objective on shares of Coastal Financial in a report on Thursday, February 13th.

Coastal Financial Price Performance

Shares of Coastal Financial stock opened at $90.96 on Tuesday. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 27.99 and a beta of 1.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $87.65 and a 200-day moving average price of $71.79. Coastal Financial has a one year low of $35.67 and a one year high of $102.25.

Coastal Financial (NASDAQ:CCB) last announced 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 return on equity of 14.98% and a net margin of 6.43%. Equities analysts expect that Coastal Financial will post 4.59 EPS for the current year.

Institutional Investors Weigh In On Coastal Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in Coastal Financial during the 3rd quarter valued at $31,000. Tower Research Capital LLC TRC raised its position in Coastal Financial by 179.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock valued at $61,000 after purchasing an additional 461 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Coastal Financial during the 4th quarter valued at $64,000. New York State Teachers Retirement System bought a new stake in Coastal Financial during the 4th quarter valued at $87,000. Finally, FMR LLC raised its position in Coastal Financial by 21.0% during the 3rd quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after purchasing an additional 228 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.