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Wall Street Analyst Insights
Analysts have recently upgraded Coastal Financial’s stock (CCB), with Hovde Group raising its target price from $55 to $67, rating it as “outperform.” Keefe, Bruyette & Woods also upgraded it to a “moderate buy.”
Stock Performance Overview
Coastal Financial has a 50-day moving average of $50.82 and a 200-day average of $45.60. It boasts a market cap of $698.06 million and a P/E ratio of 18.19. The latest earnings report showed $0.84 EPS, exceeding estimates of $0.81, with a revenue of $167.41 million against a $168.30 million consensus.
Insider Transactions
Director Steven D. Hovde sold 1,497 shares at $53.00 on August 28, totaling $79,341. Insiders have sold 28,631 shares worth $1,480,960 in three months, holding 16.82% of the company.
Institutional Investments
Recent hedge fund activity includes EntryPoint Capital increasing its stake by 642.4%, now owning 1,663 shares. Institutional investors collectively own 59.24% of the company.
About Coastal Financial
Coastal Financial Corporation is the parent company of Coastal Community Bank, providing essential banking services to businesses and individuals in Washington’s Puget Sound region.
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