Endeavour Capital Advisors Inc. Has $38.65 Million Stock Position in Coastal Financial Co. (NASDAQ:CCB)

Endeavour Capital Advisors Inc. reduced its holdings in shares of Coastal Financial Co. (NASDAQ:CCB) by 39.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 holdings, making the stock its 2nd largest position. Endeavour Capital Advisors Inc.’s holdings in Coastal Financial were worth $38,653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Coastal Financial by 11.4% during the 4th quarter. Vanguard Group Inc. now owns 685,385 shares of the company’s stock valued at $58,196,000 after purchasing an additional 70,272 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Coastal Financial by 1,067.9% in the fourth quarter. Wellington Management Group LLP now owns 456,887 shares of the company’s stock worth $38,794,000 after acquiring an additional 417,767 shares in the last quarter. State Street Corp increased its position in shares of Coastal Financial by 2.4% during the third quarter. State Street Corp now owns 314,274 shares of the company’s stock valued at $16,968,000 after acquiring an additional 7,386 shares in the last quarter. Jacobs Asset Management LLC raised its position in Coastal Financial by 9.1% in the 3rd quarter. Jacobs Asset Management LLC now owns 187,500 shares of the company’s stock worth $10,123,000 after buying an additional 15,683 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Coastal Financial by 1.0% during the 4th quarter. American Century Companies Inc. now owns 157,238 shares of the company’s stock valued at $13,351,000 after buying an additional 1,511 shares during the last quarter. Institutional investors own 59.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CCB. Raymond James restated a “strong-buy” rating and set a $100.00 target price (up previously from $88.00) on shares of Coastal Financial in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price target on Coastal Financial from $96.00 to $114.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, Stephens reaffirmed an “overweight” rating and set a $100.00 target price on shares of Coastal Financial in a report on Tuesday, March 18th.

Coastal Financial Stock Down 0.5 %

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

Coastal Financial (NASDAQ:CCB) last posted its quarterly earnings results 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%. Research analysts predict that Coastal Financial Co. will post 4.59 EPS for the current year.

Coastal Financial Company Profile

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.