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 Coastal Financial stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $52.56, for a total transaction of $157,680.00. Following the transaction, the chief executive officer now directly owns 310,689 shares in the company, valued at $16,329,813.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Coastal Financial Stock Performance

NASDAQ:CCB traded up $1.00 during trading on Monday, reaching $53.99. The company’s stock had a trading volume of 150,161 shares, compared to its average volume of 57,494. Coastal Financial Co. has a 12 month low of $35.67 and a 12 month high of $54.73. The firm has a market cap of $724.49 million, a price-to-earnings ratio of 18.88 and a beta of 1.24. The firm has a 50 day moving average of $50.79 and a 200-day moving average of $45.36. 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) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $167.41 million during the quarter, compared to analyst estimates of $168.30 million. Coastal Financial had a net margin of 6.07% and a return on equity of 13.34%. Research analysts expect that Coastal Financial Co. will post 3.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of Coastal Financial to a “moderate buy” rating in a research report on Tuesday, July 30th. Hovde Group increased their price objective on shares of Coastal Financial from $55.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC grew its stake 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 worth $65,000 after acquiring an additional 1,439 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Coastal Financial by 22,360.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company’s stock worth $207,000 after purchasing an additional 4,472 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Coastal Financial in the first quarter worth about $207,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Coastal Financial in the second quarter valued at approximately $332,000. Finally, Parallel Advisors LLC lifted its stake in shares of Coastal Financial by 2.9% during the 2nd quarter. Parallel Advisors LLC now owns 8,005 shares of the company’s stock valued at $369,000 after buying an additional 227 shares in the last quarter. 59.24% of the stock is owned by institutional investors.

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.