Brokerages Set Coastal Financial Corporation (NASDAQ:CCB) PT at $122.60

Coastal Financial Corporation (NASDAQ:CCB) has been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $122.60.

A number of analysts have weighed in on the stock. TD Cowen cut their target price on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Wall Street Zen lowered shares of Coastal Financial from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 2nd. Stephens restated an “overweight” rating and issued a $110.00 target price on shares of Coastal Financial in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods cut their price target on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, May 1st.

Coastal Financial Stock Performance

Shares of Coastal Financial stock opened at $69.71 on Friday. Coastal Financial has a fifty-two week low of $66.50 and a fifty-two week high of $120.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.04. The firm has a market capitalization of $1.06 billion, a P/E ratio of 21.85 and a beta of 0.76. The company’s 50 day moving average price is $77.86 and its two-hundred day moving average price is $94.89.

Coastal Financial (NASDAQ:CCB) last issued its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). Coastal Financial had a net margin of 7.35% and a return on equity of 10.20%. The company had revenue of $56.30 million during the quarter, compared to analyst estimates of $138.63 million. On average, equities analysts forecast that Coastal Financial will post 4.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coastal Financial

Hedge funds have recently modified their holdings of the business. Lisanti Capital Growth LLC acquired a new position in shares of Coastal Financial during the third quarter worth $3,533,000. Quent Capital LLC acquired a new position in shares of Coastal Financial during the fourth quarter worth $2,279,000. Ranger Investment Management L.P. acquired a new position in shares of Coastal Financial during the third quarter worth $16,895,000. American Century Companies Inc. lifted its holdings in shares of Coastal Financial by 5.9% during the third quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock worth $55,226,000 after purchasing an additional 28,616 shares during the period. Finally, Phocas Financial Corp. acquired a new position in shares of Coastal Financial during the fourth quarter worth $3,948,000. Institutional investors and hedge funds own 59.24% of the company’s stock.

Coastal Financial Company Profile

Coastal Financial Corporation is a bank holding company whose principal subsidiary, Coastal Community Bank, provides a full range of community banking services to clients along North Carolina’s central and eastern coastline. The company focuses on delivering personalized relationship banking to individuals, small businesses, and local professionals in seaside and inland communities.

Through Coastal Community Bank, Coastal Financial offers deposit products including checking, savings, money market accounts and certificates of deposit.