Coastal Financial Corporation $CCB is Endeavour Capital Advisors Inc.’s 5th Largest Position

Endeavour Capital Advisors Inc. reduced its position in shares of Coastal Financial Corporation (NASDAQ:CCB) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,924 shares of the company’s stock after selling 9,500 shares during the period. Coastal Financial accounts for about 5.2% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 5th largest holding. Endeavour Capital Advisors Inc. owned 1.07% of Coastal Financial worth $18,555,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Lisanti Capital Growth LLC acquired a new stake in shares of Coastal Financial in the third quarter valued at approximately $3,533,000. Quent Capital LLC acquired a new stake in shares of Coastal Financial during the 4th quarter worth about $2,279,000. Ranger Investment Management L.P. purchased a new stake in shares of Coastal Financial in the 3rd quarter valued at approximately $16,895,000. American Century Companies Inc. raised its position in Coastal Financial by 5.9% in the third quarter. American Century Companies Inc. now owns 510,549 shares of the company’s stock valued at $55,226,000 after purchasing an additional 28,616 shares during the period. Finally, Phocas Financial Corp. purchased a new stake in shares of Coastal Financial in the 4th quarter valued at $3,948,000. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and set a $110.00 target price on shares of Coastal Financial in a research note on Friday, May 1st. Keefe, Bruyette & Woods cut their target price on Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Hovde Group reduced their price target on shares of Coastal Financial from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Zacks Research downgraded Coastal Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Finally, TD Cowen decreased their target price on shares of Coastal Financial from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Coastal Financial currently has a consensus rating of “Moderate Buy” and an average price target of $122.60.

Coastal Financial Price Performance

Shares of NASDAQ:CCB opened at $69.66 on Tuesday. The business’s 50 day simple moving average is $76.71 and its 200-day simple moving average is $93.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.03. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 21.84 and a beta of 0.76. Coastal Financial Corporation has a 12 month low of $66.50 and a 12 month high of $120.05.

Coastal Financial (NASDAQ:CCB) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). The firm had revenue of $56.30 million during the quarter, compared to analysts’ expectations of $138.63 million. Coastal Financial had a net margin of 7.35% and a return on equity of 10.20%. As a group, equities analysts forecast that Coastal Financial Corporation will post 4.56 earnings per share for the current fiscal year.

Coastal Financial Profile

Coastal Financial Corporation is a bank holding company whose principal subsidiary, Coastal Community Bank, provides a full range of community banking services to clients along North Carolina’s central and eastern coastline. The company focuses on delivering personalized relationship banking to individuals, small businesses, and local professionals in seaside and inland communities.

Through Coastal Community Bank, Coastal Financial offers deposit products including checking, savings, money market accounts and certificates of deposit.