Endeavour Capital Advisors Inc. Trims Position in Coastal Financial Co. (NASDAQ:CCB)

Endeavour Capital Advisors Inc. reduced its holdings in Coastal Financial Co. (NASDAQ:CCB) by 39.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 455,229 shares of the company’s stock after selling 293,176 shares during the quarter. Coastal Financial makes up about 12.3% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 2nd largest holding. Endeavour Capital Advisors Inc. owned about 3.36% of Coastal Financial worth $38,653,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its position in Coastal Financial by 1,067.9% during the 4th quarter. Wellington Management Group LLP now owns 456,887 shares of the company’s stock valued at $38,794,000 after purchasing an additional 417,767 shares during the period. Royce & Associates LP raised its stake in Coastal Financial by 795.5% during the fourth quarter. Royce & Associates LP now owns 89,554 shares of the company’s stock worth $7,604,000 after buying an additional 79,554 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Coastal Financial by 11.4% in the fourth quarter. Vanguard Group Inc. now owns 685,385 shares of the company’s stock valued at $58,196,000 after buying an additional 70,272 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Coastal Financial by 188.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 92,007 shares of the company’s stock valued at $4,967,000 after acquiring an additional 60,106 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new stake in Coastal Financial during the 3rd quarter worth about $2,034,000. Institutional investors and hedge funds own 59.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CCB has been the topic of a number of recent analyst reports. Stephens reissued an “overweight” rating and issued a $100.00 price objective on shares of Coastal Financial in a research note on Tuesday, March 18th. Raymond James reissued a “strong-buy” rating and issued a $100.00 price target (up from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Coastal Financial from $96.00 to $114.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th.

Coastal Financial Stock Down 0.5 %

Shares of NASDAQ:CCB opened at $89.96 on Wednesday. The firm has a market cap of $1.35 billion, a P/E ratio of 27.68 and a beta of 1.21. Coastal Financial Co. has a 52-week low of $37.30 and a 52-week high of $102.25. The business’s 50 day simple moving average is $88.32 and its two-hundred day simple moving average is $76.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03.

Coastal Financial (NASDAQ:CCB) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.09). Coastal Financial had a net margin of 6.43% and a return on equity of 14.98%. As a group, research analysts forecast that Coastal Financial Co. will post 4.59 EPS for the current fiscal year.

About Coastal Financial

Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small and medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts.