Coastal Financial (CCB) Surges 5.3%: Is This an Indication of Further Gains?

Shares of Coastal Financial hit a 52-week high of $50.66 as encouraging inflation numbers and a rising unemployment rate are giving confidence to the Federal Reserve that prices will eventually come down toward the 2% target. So, market participants are predicting interest rate cuts as early as during the September FOMC meeting. Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions ar ...