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Wall Street Analyst Commentary
Analysts have recently upgraded Coastal Financial (CCB) shares. Hovde Group raised their target price from $55 to $67 with an outperform rating. Keefe, Bruyette & Woods also upgraded their rating to moderate buy on July 30th.
Coastal Financial Performance
The firm has a market cap of $698 million, a P/E ratio of 18.19, and a beta of 1.24. On July 29th, the company reported earnings of $0.84 per share, exceeding estimates by $0.03.
Insider Transactions
Director Steven D. Hovde sold 1,497 shares on August 28th at $53 each, totaling $79,341. He retains 26,500 shares worth $1.4 million. In total, insiders sold 28,631 shares valued at $1.48 million over the last three months, holding 16.82% of shares.
Institutional Ownership
Institutional investors own 59.24% of Coastal Financial. Recent activity includes EntryPoint Capital raising its stake by over 642%, and Allspring Global Investments acquiring shares valued at about $332,000.
About Coastal Financial
Coastal Financial Corporation operates Coastal Community Bank, serving small to medium-sized businesses and individuals in the Puget Sound region.
Further Resources
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