Is Coastal Financial (CCB) Outperforming Other Finance Stocks This Year?

Zacks
22 Oct 2024

Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Coastal Financial Corporation (CCB) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.

Coastal Financial Corporation is one of 871 companies in the Finance group. The Finance group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Coastal Financial Corporation is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for CCB's full-year earnings has moved 2.6% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that CCB has returned about 32.9% since the start of the calendar year. Meanwhile, stocks in the Finance group have gained about 20.5% on average. As we can see, Coastal Financial Corporation is performing better than its sector in the calendar year.

Gladstone Commercial (GOOD) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 23%.

The consensus estimate for Gladstone Commercial's current year EPS has increased 3.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Coastal Financial Corporation is a member of the Banks - West industry, which includes 29 individual companies and currently sits at #158 in the Zacks Industry Rank. On average, stocks in this group have gained 9.6% this year, meaning that CCB is performing better in terms of year-to-date returns.

On the other hand, Gladstone Commercial belongs to the REIT and Equity Trust - Other industry. This 96-stock industry is currently ranked #79. The industry has moved +6.9% year to date.

Coastal Financial Corporation and Gladstone Commercial could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.

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