Eric Sprink Sells 4,000 Shares of Coastal Financial (NASDAQ:CCB) Stock

Coastal Financial Corporation (NASDAQ:CCB) CEO Eric Sprink sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $116.01, for a total transaction of $464,040.00. Following the sale, the chief executive officer owned 159,126 shares in the company, valued at $18,460,207.26. The trade was a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Coastal Financial Stock Performance

Shares of NASDAQ:CCB traded down $2.60 during trading on Friday, hitting $113.17. 38,313 shares of the company were exchanged, compared to its average volume of 109,903. The company has a market cap of $1.71 billion, a PE ratio of 35.81 and a beta of 0.89. Coastal Financial Corporation has a 52-week low of $76.11 and a 52-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 1.05. The stock has a 50 day moving average of $112.64 and a 200 day moving average of $108.55.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). Coastal Financial had a net margin of 7.14% and a return on equity of 10.45%. The company had revenue of $52.89 million for the quarter, compared to the consensus estimate of $133.44 million. As a group, equities research analysts predict that Coastal Financial Corporation will post 4.59 EPS for the current year.

Analyst Upgrades and Downgrades

CCB has been the topic of a number of analyst reports. UBS Group set a $155.00 target price on shares of Coastal Financial in a report on Friday, December 5th. Zacks Research raised shares of Coastal Financial from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Coastal Financial in a research note on Monday, December 29th. Finally, TD Cowen restated a “buy” rating on shares of Coastal Financial in a research report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $125.17.

Institutional Trading of Coastal Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CCB. JPMorgan Chase & Co. lifted its holdings in Coastal Financial by 2.3% in the second quarter. JPMorgan Chase & Co. now owns 6,644 shares of the company’s stock worth $644,000 after buying an additional 149 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Coastal Financial by 1.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,303 shares of the company’s stock worth $1,676,000 after acquiring an additional 165 shares in the last quarter. Emerald Advisers LLC lifted its stake in shares of Coastal Financial by 2.5% in the 2nd quarter. Emerald Advisers LLC now owns 7,421 shares of the company’s stock valued at $719,000 after purchasing an additional 179 shares during the period. Swiss National Bank boosted its position in shares of Coastal Financial by 0.8% during the third quarter. Swiss National Bank now owns 26,165 shares of the company’s stock valued at $2,830,000 after purchasing an additional 200 shares in the last quarter. Finally, EJF Capital LLC grew its stake in Coastal Financial by 2.5% in the second quarter. EJF Capital LLC now owns 13,547 shares of the company’s stock worth $1,312,000 after purchasing an additional 329 shares during the period. Institutional investors own 59.24% of the company’s stock.

About Coastal Financial

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.