Coastal Financial Co. (NASDAQ:CCB) CEO Sells $162,568.12 in Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 3,223 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $50.44, for a total value of $162,568.12. Following the completion of the transaction, the chief executive officer now directly owns 313,689 shares in the company, valued at $15,822,473.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Coastal Financial Trading Up 1.1 %

Coastal Financial stock traded up $0.53 during trading on Tuesday, reaching $50.85. 72,722 shares of the company were exchanged, compared to its average volume of 55,411. The stock’s 50 day simple moving average is $50.30 and its two-hundred day simple moving average is $44.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $682.36 million, a P/E ratio of 17.78 and a beta of 1.24. Coastal Financial Co. has a 52-week low of $35.67 and a 52-week high of $54.00.

Coastal Financial (NASDAQ:CCB) last announced its earnings results on Monday, July 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $167.41 million for the quarter, compared to analyst estimates of $168.30 million. On average, equities research analysts expect that Coastal Financial Co. will post 3.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Coastal Financial

Several institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC increased its stake in Coastal Financial by 642.4% in the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock valued at $65,000 after buying an additional 1,439 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Coastal Financial during the 1st quarter worth approximately $207,000. Allspring Global Investments Holdings LLC lifted its holdings in Coastal Financial by 22,360.0% in the second 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 during the period. Susquehanna Fundamental Investments LLC acquired a new position in Coastal Financial during the second quarter worth about $332,000. Finally, Parallel Advisors LLC increased its stake in Coastal Financial by 2.9% in the 2nd quarter. Parallel Advisors LLC now owns 8,005 shares of the company’s stock valued at $369,000 after purchasing an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 59.24% of the company’s stock.

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.