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

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

A number of other research firms have also recently commented on CCB. Keefe, Bruyette & Woods upped their price objective on 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 reaffirmed a “strong-buy” rating and set a $100.00 price target (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th.

Coastal Financial Stock Up 0.8 %

CCB opened at $84.44 on Tuesday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 25.98 and a beta of 1.21. The firm has a 50 day moving average price of $87.45 and a 200-day moving average price of $74.01. Coastal Financial has a twelve month low of $36.60 and a twelve month high of $102.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14.

Coastal Financial (NASDAQ:CCB) last posted 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 research analysts forecast that Coastal Financial will post 4.59 earnings per share for the current year.

Hedge Funds Weigh In On Coastal Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriflex Group Inc. purchased a new stake in Coastal Financial in the fourth quarter worth about $172,000. Public Employees Retirement System of Ohio purchased a new stake in Coastal Financial in the 4th quarter worth approximately $448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Coastal Financial by 101.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,417 shares of the company’s stock worth $2,158,000 after acquiring an additional 12,814 shares during the period. Westwood Holdings Group Inc. bought a new stake in Coastal Financial during the 4th quarter worth approximately $7,620,000. Finally, Squarepoint Ops LLC purchased a new position in Coastal Financial during the fourth quarter valued at approximately $1,664,000. 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.