Eric M. Sprink Sells 3,000 Shares of Coastal Financial Co. (NASDAQ:CCB) Stock

Coastal Financial Co. (NASDAQ:CCB) CEO Eric M. Sprink sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $52.56, for a total value of $157,680.00. Following the transaction, the chief executive officer now directly owns 310,689 shares of the company’s stock, valued at $16,329,813.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Coastal Financial Stock Performance

Shares of CCB stock opened at $52.13 on Wednesday. The company has a fifty day moving average price of $50.82 and a two-hundred day moving average price of $45.60. Coastal Financial Co. has a one year low of $35.67 and a one year high of $54.73. The stock has a market cap of $699.53 million, a P/E ratio of 18.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.03.

Coastal Financial (NASDAQ:CCB) last issued its earnings results on Monday, July 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $167.41 million during the quarter, compared to the consensus estimate of $168.30 million. Coastal Financial had a net margin of 6.07% and a return on equity of 13.34%. As a group, equities analysts predict that Coastal Financial Co. will post 3.52 EPS for the current year.

Wall Street Analyst Weigh In

CCB has been the subject of several recent research reports. Keefe, Bruyette & Woods raised Coastal Financial to a “moderate buy” rating in a research report on Tuesday, July 30th. Hovde Group upped their price objective on Coastal Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th.

Institutional Investors Weigh In On Coastal Financial

A number of large investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC boosted its position in Coastal Financial by 642.4% during the first quarter. EntryPoint Capital LLC now owns 1,663 shares of the company’s stock worth $65,000 after purchasing an additional 1,439 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Coastal Financial by 22,360.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,492 shares of the company’s stock worth $207,000 after buying an additional 4,472 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Coastal Financial during the 1st quarter worth about $207,000. Susquehanna Fundamental Investments LLC acquired a new position in Coastal Financial in the 2nd quarter valued at about $332,000. Finally, Parallel Advisors LLC raised its holdings in Coastal Financial by 2.9% in the 2nd quarter. Parallel Advisors LLC now owns 8,005 shares of the company’s stock valued at $369,000 after acquiring an additional 227 shares during the period. Institutional investors own 59.24% of the company’s stock.

About Coastal Financial

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.