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Wall Street Analyst Updates
Analysts have upgraded Coastal Financial (CCB) shares. Hovde Group raised their target from $55 to $67, rating it “outperform,” while Keefe, Bruyette & Woods assigned a “moderate buy” rating.
Company Performance
Coastal Financial’s recent earnings showed an EPS of $0.84, slightly above the expected $0.81. The company posted revenue of $167.41 million for the quarter, below forecasts. Analysts project an annual EPS of 3.52.
Insider Transactions
Director Steven D. Hovde sold 1,497 shares at $53 each and has since sold additional shares, totaling 28,631 sold recently. Insiders now hold 16.82% of the company’s stock.
Institutional Ownership
Institutional investors own over 59% of Coastal Financial. Recent movements include EntryPoint Capital increasing its stake by over 642% and significant new investments from Quadrature Capital and Allspring Global Investments.
About Coastal Financial
Coastal Financial Corporation operates as a bank holding company serving the Puget Sound region, offering a variety of banking services and products.
Further Reading
- Five stocks we prefer over Coastal Financial
- Understanding the FTSE 100 index
- Best Upside Stocks in S&P 500
- Risks of Bond Ownership
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