Coastal Financial Co. (NASDAQ:CCB) Short Interest Update

Coastal Financial Co. (NASDAQ:CCB) saw a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 393,100 shares, a decrease of 12.6% from the January 31st total of 449,700 shares. Based on an average daily trading volume, of 116,600 shares, the short-interest ratio is currently 3.4 days.

Coastal Financial Stock Performance

CCB traded down $3.93 during trading hours on Thursday, reaching $87.04. The company’s stock had a trading volume of 66,124 shares, compared to its average volume of 125,788. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50-day moving average is $87.65 and its 200-day moving average is $71.79. Coastal Financial has a 52 week low of $35.67 and a 52 week high of $102.25. The firm has a market cap of $1.18 billion, a PE ratio of 26.70 and a beta of 1.21.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.09). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. On average, equities analysts forecast that Coastal Financial will post 4.59 EPS for the current year.

Analyst Ratings Changes

CCB has been the subject of several recent research reports. 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. Raymond James reissued a “strong-buy” rating and issued a $100.00 target price (up from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods increased 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.

Institutional Trading of Coastal Financial

Large investors have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in Coastal Financial during the third quarter worth about $31,000. Tower Research Capital LLC TRC increased its stake in Coastal Financial by 179.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 718 shares of the company’s stock valued at $61,000 after acquiring an additional 461 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Coastal Financial during the fourth quarter valued at approximately $64,000. FMR LLC boosted its holdings in shares of Coastal Financial by 21.0% in the 3rd quarter. FMR LLC now owns 1,316 shares of the company’s stock valued at $71,000 after purchasing an additional 228 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in shares of Coastal Financial in the 4th quarter valued at $87,000. 59.24% of the stock is owned by institutional investors and hedge funds.

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.