Endeavour Capital Advisors Inc. Sells 9,500 Shares of Coastal Financial Corporation $CCB

Endeavour Capital Advisors Inc. decreased its holdings in shares of Coastal Financial Corporation (NASDAQ:CCB) by 5.5% during the 4th quarter, Holdings Channel.com reports. The firm 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 investment portfolio, making the stock its 5th largest holding. Endeavour Capital Advisors Inc.’s holdings in Coastal Financial were worth $18,555,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Coldstream Capital Management Inc. grew its stake in shares of Coastal Financial by 29.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,067 shares of the company’s stock valued at $351,000 after buying an additional 702 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Coastal Financial in the fourth quarter worth about $234,000. EverSource Wealth Advisors LLC grew its position in Coastal Financial by 129.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 300 shares of the company’s stock valued at $34,000 after acquiring an additional 169 shares in the last quarter. Legato Capital Management LLC increased its stake in Coastal Financial by 49.0% during the 4th quarter. Legato Capital Management LLC now owns 12,070 shares of the company’s stock worth $1,383,000 after buying an additional 3,970 shares during the period. Finally, FourThought Financial Partners LLC purchased a new stake in shares of Coastal Financial during the fourth quarter worth about $266,000. 59.24% of the stock is currently owned by hedge funds and other institutional investors.

Coastal Financial Price Performance

Shares of NASDAQ:CCB opened at $69.66 on Tuesday. The company’s fifty day moving average is $76.71 and its two-hundred day moving average is $93.11. The company has a market cap of $1.06 billion, a P/E ratio of 21.84 and a beta of 0.76. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. 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 data on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.24). The business had revenue of $56.30 million for the quarter, compared to analyst estimates of $138.63 million. Coastal Financial had a return on equity of 10.20% and a net margin of 7.35%. Equities analysts expect that Coastal Financial Corporation will post 4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CCB has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Coastal Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Hovde Group dropped their price target on Coastal Financial from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Keefe, Bruyette & Woods dropped their price objective on shares of Coastal Financial from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. TD Cowen cut their target price on Coastal Financial from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Coastal Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.60.

About Coastal Financial

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.