In a report released on July 27, David Feaster from Raymond James reiterated a Buy rating on Coastal Financial (CCB – Research Report), with a price target of $57.00. The company’s shares closed last Friday at $45.93.
Feaster covers the Financial sector, focusing on stocks such as Axos Financial, Columbia Banking System, and Glacier Bancorp. According to TipRanks, Feaster has an average return of 19.3% and a 60.82% success rate on recommended stocks.
Currently, the analyst consensus on Coastal Financial is a Strong Buy with an average price target of $56.67.
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Based on Coastal Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $103.8 million and a net profit of $12.39 million. In comparison, last year the company earned a revenue of $51.18 million and had a net profit of $6.16 million
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Coastal Financial Corp. operates as a bank holding company. Through Coastal Community Bank, it provides banking products and services to small and medium-sized businesses, professionals, and individuals. It also offers deposit products. The company was founded by Eric M. Sprink and Lee Pintar on July 9, 2003 and is headquartered in Everett, WA.
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