Coastal Financial Corporation (CCB) – What Are Investment Firms Saying About This Stock?

Shares of Coastal Financial Corporation (NASDAQ:CCB) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $91.83.

CCB has been the topic of a number of analyst reports. Raymond James Financial cut shares of Coastal Financial from a “strong-buy” rating to an “outperform” rating and set a $50.00 target price on the stock. in a research report on Friday, July 31st. TD Cowen lifted their price target on Coastal Financial from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Keefe, Bruyette & Woods lowered their price objective on Coastal Financial from $95.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Weiss Ratings lowered Coastal Financial from a “hold (c)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Coastal Financial from a “strong sell” rating to a “hold” rating in a report on Tuesday.

Coastal Financial Trading Down 2.7%

Shares of CCB opened at $43.25 on Friday. Coastal Financial has a 1-year low of $35.56 and a 1-year high of $120.05. The company has a market capitalization of $661.12 million, a P/E ratio of -160.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.05 and a quick ratio of 1.03. The firm’s 50 day simple moving average is $44.32 and its 200 day simple moving average is $67.23.

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.07). Coastal Financial had a negative return on equity of 0.75% and a negative net margin of 0.50%. The firm had revenue of $65.12 million during the quarter, compared to analysts’ expectations of $158.85 million. Sell-side analysts forecast that Coastal Financial will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coastal Financial

Hedge funds have recently modified their holdings of the company. Mendon Capital Advisors Corp grew its stake in Coastal Financial by 86.7% in the first quarter. Mendon Capital Advisors Corp now owns 56,000 shares of the company’s stock worth $4,262,000 after purchasing an additional 26,000 shares during the period. Renaissance Technologies LLC bought a new position in Coastal Financial in the first quarter worth $1,720,000. Quantinno Capital Management LP lifted its position in Coastal Financial by 1,026.9% during the first quarter. Quantinno Capital Management LP now owns 25,377 shares of the company’s stock valued at $1,931,000 after buying an additional 23,125 shares during the period. Bank of America Corp DE lifted its position in Coastal Financial by 71.2% during the 1st quarter. Bank of America Corp DE now owns 86,657 shares of the company’s stock valued at $6,595,000 after acquiring an additional 36,045 shares during the period. Finally, Ranger Investment Management L.P. purchased a new stake in Coastal Financial in the second quarter worth about $10,766,000. Hedge funds and other institutional investors own 59.24% of the company’s stock.

More Coastal Financial News

Here are the key news stories impacting Coastal Financial this week:

• Positive Sentiment: Zacks Research upgraded CCB from “strong sell” to “hold,” a less bearish view that may provide limited support for investor sentiment. Zacks Research ratings
• Neutral Sentiment: Several law firms reiterated that December 1 is the deadline for investors who bought shares during October 28, 2024–July 29, 2026 to seek lead-plaintiff status. The notices largely repeat the same pending lawsuit rather than report a new court ruling. Rosen Law Firm notice
• Negative Sentiment: The securities class action alleges Coastal gave misleading assurances about CCBX credit quality as a partner loan portfolio deteriorated. The lawsuit follows a reported $68.8 million credit expense and unexpected valuation adjustments in the BaaS segment, which were associated with a sharp earlier share-price drop. The litigation and scrutiny of credit-risk management may weigh on sentiment; the allegations have not been established in court. Hagens Berman investor alert

Coastal Financial Company Profile

Coastal Financial Corporation is a bank holding company headquartered in Everett, Washington. Its principal subsidiary, Coastal Community Bank, provides banking services to individuals, families, and businesses in the Pacific Northwest, with a focus on communities in the Puget Sound region.

Coastal Community Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, lines of credit, treasury management, online and mobile banking, and other traditional banking products.