Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink Sells 3,000 Shares

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $55.00, for a total transaction of $165,000.00. Following the sale, the chief executive officer now directly owns 294,285 shares in the company, valued at approximately $16,185,675. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Coastal Financial Stock Performance

Shares of NASDAQ:CCB traded up $2.42 during midday trading on Friday, reaching $56.67. The company’s stock had a trading volume of 90,315 shares, compared to its average volume of 57,327. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $50.94 and a 200 day moving average of $46.25. Coastal Financial Co. has a twelve month low of $35.67 and a twelve month high of $57.01. The firm has a market capitalization of $762.78 million, a PE ratio of 20.61 and a beta of 1.24.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Monday, July 29th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $167.41 million during the quarter, compared to analyst estimates of $168.30 million. Coastal Financial had a return on equity of 13.34% and a net margin of 6.07%. On average, equities analysts expect that Coastal Financial Co. will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Cox Capital Mgt LLC grew its stake in shares of Coastal Financial by 1.6% during the 1st quarter. Cox Capital Mgt LLC now owns 36,010 shares of the company’s stock worth $1,400,000 after purchasing an additional 556 shares during the period. First Bank & Trust boosted its holdings in Coastal Financial by 3.6% during the first quarter. First Bank & Trust now owns 21,767 shares of the company’s stock worth $846,000 after buying an additional 761 shares in the last quarter. Norden Group LLC acquired a new stake in Coastal Financial during the first quarter valued at $1,488,000. Diversify Advisory Services LLC purchased a new position in Coastal Financial in the first quarter valued at $714,000. Finally, BNP Paribas Financial Markets increased its holdings in Coastal Financial by 18.0% in the first quarter. BNP Paribas Financial Markets now owns 11,572 shares of the company’s stock valued at $450,000 after buying an additional 1,766 shares in the last quarter. 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.