Coastal Financial Co. (NASDAQ:CCB – Get Free Report) CEO Eric M. Sprink sold 3,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $55.00, for a total value of $165,000.00. Following the transaction, the chief executive officer now directly owns 294,285 shares of the company’s stock, valued at approximately $16,185,675. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Coastal Financial Price Performance
Shares of NASDAQ:CCB opened at $56.67 on Monday. Coastal Financial Co. has a one year low of $35.67 and a one year high of $57.01. The stock has a fifty day moving average of $51.09 and a 200-day moving average of $46.51. The company has a market capitalization of $760.45 million, a PE ratio of 19.81 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.03.
Coastal Financial (NASDAQ:CCB – Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.84 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 during the quarter, compared to the consensus estimate of $168.30 million. As a group, equities analysts anticipate that Coastal Financial Co. will post 3.56 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Institutional Investors Weigh In On Coastal Financial
Institutional investors and hedge funds have recently modified their holdings of the stock. Diversify Advisory Services LLC acquired a new stake in shares of Coastal Financial during the 1st quarter valued at $714,000. Envestnet Asset Management Inc. lifted its holdings in shares of Coastal Financial by 3.5% in the second quarter. Envestnet Asset Management Inc. now owns 58,061 shares of the company’s stock valued at $2,679,000 after purchasing an additional 1,956 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Coastal Financial in the first quarter valued at $1,488,000. Vanguard Group Inc. lifted its holdings in shares of Coastal Financial by 0.9% in the first quarter. Vanguard Group Inc. now owns 598,601 shares of the company’s stock valued at $23,268,000 after purchasing an additional 5,592 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Coastal Financial by 23.3% in the second quarter. American Century Companies Inc. now owns 141,203 shares of the company’s stock valued at $6,515,000 after purchasing an additional 26,690 shares in the last quarter. Institutional investors and hedge funds 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.
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