Raymond James Issues Positive Forecast for Coastal Financial (NASDAQ:CCB) Stock Price

Coastal Financial (NASDAQ:CCB) had its target price hoisted by Raymond James from $100.00 to $105.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a strong-buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Stephens reissued an “overweight” rating and set a $100.00 price target on shares of Coastal Financial in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods upped their target price on Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th.

Coastal Financial Stock Down 0.1 %

CCB stock opened at $89.91 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $1.35 billion, a P/E ratio of 27.66 and a beta of 1.21. Coastal Financial has a fifty-two week low of $37.30 and a fifty-two week high of $102.25. The business has a 50-day moving average of $88.45 and a 200-day moving average of $76.67.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share 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%. On average, sell-side analysts anticipate that Coastal Financial will post 4.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CCB. First Trust Advisors LP grew its holdings in Coastal Financial by 1.9% during the fourth quarter. First Trust Advisors LP now owns 8,297 shares of the company’s stock worth $704,000 after purchasing an additional 156 shares during the period. FMR LLC lifted its position in shares of Coastal Financial by 21.0% in the third quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after buying an additional 228 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Coastal Financial by 5.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,459 shares of the company’s stock worth $548,000 after acquiring an additional 343 shares during the period. Franklin Resources Inc. increased its holdings in shares of Coastal Financial by 0.9% during the 4th quarter. Franklin Resources Inc. now owns 45,886 shares of the company’s stock worth $3,896,000 after acquiring an additional 400 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Coastal Financial by 179.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock valued at $61,000 after acquiring an additional 461 shares during the period. 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.