Coastal Financial (NASDAQ:CCB) Price Target Raised to $114.00

Coastal Financial (NASDAQ:CCB) had its price objective upped by equities research analysts at Keefe, Bruyette & Woods from $96.00 to $114.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 13.20% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Raymond James reaffirmed a “strong-buy” rating and set a $100.00 price target (up previously from $88.00) on shares of Coastal Financial in a research report on Wednesday, January 29th. Stephens restated an “overweight” rating and set a $100.00 target price on shares of Coastal Financial in a research report on Thursday, February 13th.

Coastal Financial Price Performance

Coastal Financial stock opened at $100.71 on Tuesday. The stock’s 50 day moving average is $87.31 and its 200 day moving average is $71.35. Coastal Financial has a one year low of $35.67 and a one year high of $102.25. The firm has a market cap of $1.36 billion, a P/E ratio of 30.99 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03.

Coastal Financial (NASDAQ:CCB) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.94 earnings per share (EPS) 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%. As a group, research analysts expect that Coastal Financial will post 4.59 EPS for the current year.

Institutional Investors Weigh In On Coastal Financial

A number of large investors have recently bought and sold shares of the stock. Ameriflex Group Inc. bought a new position in shares of Coastal Financial during the 4th quarter worth about $172,000. Public Employees Retirement System of Ohio bought a new position in Coastal Financial in the fourth quarter worth approximately $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 fourth 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 acquiring an additional 12,814 shares during the period. Westwood Holdings Group Inc. acquired a new stake in Coastal Financial in the fourth quarter valued at approximately $7,620,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Coastal Financial during the fourth quarter valued at approximately $1,664,000. 59.24% of the stock is currently owned by institutional investors and hedge funds.

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.