SCHEDULE 13G/A: Endeavour Capital Advisors and Principals Disclose 3.0% Passive Stake in Coastal Financial Corporation
Ownership Disclosure
Endeavour Capital Advisors Inc. and its principals, Laurence M. Austin, Mitchell J. Katz, and Jonah Marcus, have jointly disclosed a 3.0% passive beneficial ownership stake in Coastal Financial Corporation's common stock as of December 31, 2024.
Summary
- Endeavour Capital Advisors Inc. and its principals, Laurence M. Austin, Mitchell J. Katz, and Jonah Marcus, jointly reported beneficial ownership of 455,229 shares of Coastal Financial Corporation's common stock.
- This ownership represents 3.0% of the outstanding common stock, calculated based on 14,935,298 shares outstanding as of December 31, 2024.
- The filing is an Amendment No. 4 to Schedule 13G, indicating an update to previously disclosed ownership information.
- The reporting persons explicitly state that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Coastal Financial Corporation.
Sentiment
Score: 5
Explanation: The document is a standard regulatory disclosure of passive ownership, providing factual information without indicating positive or negative developments for the company's operations or financial performance.
Future Outlook
NA
Industry Context
Coastal Financial Corporation operates within the banking and financial services sector. This Schedule 13G filing indicates that Endeavour Capital Advisors Inc., an investment adviser, along with its principals, holds a passive stake in the company, which is a common practice for institutional investors in publicly traded financial institutions.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional holder's stake in the company.
- Employees, Customers, Suppliers, Creditors: No direct or immediate impact from this passive ownership disclosure.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Date of event which requires filing of this statement (ownership snapshot). |
| 01/28/2025 | Date Coastal Financial Corporation's Current Report on Form 8-K was filed, reporting 14,935,298 shares outstanding. |
| 02/14/2025 | Date of signing of the Schedule 13G filing. |
Keywords
Coastal Financial Corporation, Endeavour Capital Advisors, Schedule 13G, Beneficial Ownership, Common Stock, Financial Services, Banking Sector, Investment Management, Passive Investment
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