Coastal Financial (NASDAQ:CCB) Stock Price Down 6.5% – What’s Next?

Coastal Financial Co. (NASDAQ:CCB) shares were down 6.5% during trading on Tuesday . The stock traded as low as $92.36 and last traded at $94.13. Approximately 49,850 shares changed hands during trading, a decline of 60% from the average daily volume of 123,835 shares. The stock had previously closed at $100.71.

Analyst Upgrades and Downgrades

CCB has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a research note on Tuesday. Raymond James reaffirmed a “strong-buy” rating and issued a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Finally, Stephens reissued an “overweight” rating and set a $100.00 price target on shares of Coastal Financial in a research report on Thursday, February 13th.

Coastal Financial Stock Down 7.8 %

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average price is $87.31 and its two-hundred day moving average price is $71.35. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 28.56 and a beta of 1.23.

Coastal Financial (NASDAQ:CCB) last announced 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%. Sell-side analysts anticipate that Coastal Financial Co. will post 4.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coastal Financial

A number of large investors have recently added to or reduced their stakes in CCB. Ameriflex Group Inc. acquired a new position in shares of Coastal Financial in the fourth quarter valued at $172,000. Public Employees Retirement System of Ohio acquired a new position in Coastal Financial in the 4th quarter valued at about $448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Coastal Financial by 101.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,417 shares of the company’s stock valued at $2,158,000 after buying an additional 12,814 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in Coastal Financial in the 4th quarter valued at about $7,620,000. Finally, Squarepoint Ops LLC acquired a new stake in Coastal Financial during the fourth quarter worth approximately $1,664,000. 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.