Coastal Financial (NASDAQ:CCB) Price Target Raised to $114.00 at Keefe, Bruyette & Woods

Coastal Financial (NASDAQ:CCB) had its price objective hoisted by Keefe, Bruyette & Woods from $96.00 to $114.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

CCB has been the topic of several other research reports. 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 reissued an “overweight” rating and issued a $100.00 target price on shares of Coastal Financial in a research report on Thursday, February 13th.

Coastal Financial Trading Down 4.2 %

Shares of NASDAQ:CCB opened at $87.11 on Tuesday. 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 market capitalization of $1.18 billion, a price-to-earnings ratio of 26.80 and a beta of 1.21. Coastal Financial has a 1-year low of $35.67 and a 1-year high of $102.25. The company has a 50 day moving average price of $87.70 and a 200 day moving average price of $71.90.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.09). Coastal Financial had a return on equity of 14.98% and a net margin of 6.43%. On average, research analysts anticipate that Coastal Financial will post 4.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Coastal Financial

Several hedge funds have recently bought and sold shares of the business. Creative Planning acquired a new position in shares of Coastal Financial in the 3rd quarter valued at about $298,000. Principal Financial Group Inc. purchased a new position in Coastal Financial during the third quarter valued at approximately $377,000. Portside Wealth Group LLC increased its stake in Coastal Financial by 3.7% in the 3rd quarter. Portside Wealth Group LLC now owns 4,669 shares of the company’s stock valued at $252,000 after buying an additional 166 shares during the period. Los Angeles Capital Management LLC lifted its position in Coastal Financial by 79.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 57,357 shares of the company’s stock worth $3,097,000 after buying an additional 25,482 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in Coastal Financial by 7.8% in the 3rd quarter. GSA Capital Partners LLP now owns 11,850 shares of the company’s stock worth $640,000 after buying an additional 857 shares in the last quarter. 59.24% of the stock is 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.