Eric M. Sprink Sells 7,302 Shares of Coastal Financial Co. (NASDAQ:CCB) Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 7,302 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $50.13, for a total value of $366,049.26. Following the sale, the chief executive officer now owns 316,912 shares of the company’s stock, valued at approximately $15,886,798.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Coastal Financial Stock Up 0.2 %

NASDAQ CCB opened at $50.95 on Thursday. Coastal Financial Co. has a 12 month low of $35.67 and a 12 month high of $54.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. The stock has a market cap of $683.70 million, a PE ratio of 17.81 and a beta of 1.24. The stock’s 50 day moving average is $50.43 and its 200 day moving average is $44.56.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings 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 worth $369,000 after purchasing an additional 227 shares during the last quarter. Riverwater Partners LLC increased its stake in Coastal Financial by 6.4% in the 2nd quarter. Riverwater Partners LLC now owns 8,265 shares of the company’s stock worth $381,000 after acquiring an additional 494 shares during the last quarter. Cox Capital Mgt LLC increased its stake in Coastal Financial by 1.6% in the 1st quarter. Cox Capital Mgt LLC now owns 36,010 shares of the company’s stock worth $1,400,000 after acquiring an additional 556 shares during the last quarter. First Bank & Trust raised its holdings in shares of Coastal Financial by 3.6% during the 1st quarter. First Bank & Trust now owns 21,767 shares of the company’s stock worth $846,000 after acquiring an additional 761 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of Coastal Financial by 642.4% during the 1st quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock valued at $65,000 after acquiring an additional 1,439 shares during the last quarter. Institutional investors own 59.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CCB shares. Keefe, Bruyette & Woods upgraded Coastal Financial to a “moderate buy” rating in a research note 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 report on Tuesday, July 30th.

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.