Insider Selling: Coastal Financial Co. (NASDAQ:CCB) CEO Sells $157,680.00 in Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $52.56, for a total value of $157,680.00. Following the completion of the sale, the chief executive officer now owns 310,689 shares of the company’s stock, valued at approximately $16,329,813.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Coastal Financial Stock Down 0.2 %

CCB opened at $52.02 on Thursday. The business has a 50 day moving average price of $50.84 and a two-hundred day moving average price of $45.65. Coastal Financial Co. has a 52 week low of $35.67 and a 52 week high of $54.73. The company has a market cap of $698.06 million, a PE ratio of 18.19 and a beta of 1.24. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $167.41 million during the quarter, compared to the consensus estimate of $168.30 million. Coastal Financial had a return on equity of 13.34% and a net margin of 6.07%. As a group, research analysts anticipate that Coastal Financial Co. will post 3.52 EPS for the current year.

Institutional Investors Weigh In On Coastal Financial

A number of institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC grew its holdings in shares of Coastal Financial by 642.4% in the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock worth $65,000 after acquiring an additional 1,439 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Coastal Financial by 22,360.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company’s stock valued at $207,000 after acquiring an additional 4,472 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Coastal Financial during the first quarter worth about $207,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Coastal Financial in the second quarter valued at approximately $332,000. Finally, Parallel Advisors LLC grew its position in shares of 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 purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 59.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.