NASDAQ$CCB
Coastal Financial Corporation · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Coastal Financial Corporation reported Q4 2023 results, showing a decrease in net income compared to the previous quarter but an increase compared to the same quarter last year. The company focused on optimizing its CCBX loan portfolio and managing credit risk.
Coastal Financial Corporation reported a net income of $9.0 million, or $0.66 per diluted common share, for Q4 2023. Total assets reached $3.75 billion, with loans increasing to $3.03 billion and deposits growing to $3.36 billion. The company strategically sold $125.1 million in CCBX loans to reduce risk and optimize the portfolio.
- Net income was $9.0 million, or $0.66 per diluted common share.
- Total assets increased to $3.75 billion, driven by loan and deposit growth.
- Total loans reached $3.03 billion, with increases in both community bank and CCBX loans.
- Deposits grew to $3.36 billion, with significant growth in CCBX deposits.
Headline financials
Revenue & EPS history
Coastal Financial · Revenue · Quarterly
$124M
Revenue by segment
Coastal Financial · $60.3M total across 2 segments · Q3 2023
- CCBX$41M+30.3%68.0%
- Community Bank$19.3M-15.1%32.0%
Forward guidance
Coastal Financial plans to focus on reducing costs through automation and leveraging technology, optimizing the CCBX loan portfolio, and managing credit risk. They expect lower earnings in the short term due to lower loan yields and compressed margins.
Tailwinds
- Focus on reducing costs through automation and technology.
- Optimizing the CCBX loan portfolio by selling higher-risk loans and strengthening credit standards.
- Focusing on larger partners and companies that align with long-term profitability and growth objectives.
- Continuing to monitor and manage liquidity position.
- Maintaining access to alternative sources of funds.
Headwinds
- Expect lower earnings in the short term with lower loan yields and compressed margins.
- Net interest margin will tighten as higher quality loans yield less than higher risk loans.
- Size of CCBX loan portfolio will be about the same as the previous quarter while working to grow the portfolio with loans that are subject to increased underwriting standards.
- Credit quality concerns in the CCBX loan portfolio.
- Potential exposure to additional credit losses if CCBX partners are unable to fulfill their contracted obligations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+1.8%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+3.7%
Avg return
30 days after
69%
24 / 35 earnings
Positive
+10.4%
Q1 2023
Best reaction
-9.0%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.0% | -15.2% | -18.0% | |
| Q4 2025 | +0.1% | -11.3% | -26.5% | |
| Q3 2025 | -3.4% | -1.3% | +2.8% | |
| Q1 2025 | +0.3% | +3.7% | +3.8% | |
| Q4 2024 | +6.8% | +0.4% | -2.6% | |
| Q3 2024 | +10.4% | +8.2% | +32.1% | |
| Q2 2024 | +0.1% | -7.0% | -0.5% | |
| Q1 2024 | -4.7% | +3.2% | +6.0% | |
| Q4 2023 | -6.6% | -8.8% | -10.2% | |
| Q3 2023 | -9.0% | -9.7% | -1.9% | |
| Q2 2023 | -3.0% | -6.2% | -8.3% | |
| Q1 2023 | +10.4% | +2.8% | +8.2% | |
| Q4 2022 | +3.9% | +8.4% | +5.2% | |
| Q3 2022 | +9.9% | +15.6% | +18.4% | |
| Q2 2022 | +4.6% | +3.8% | +2.9% | |
| Q1 2022 | +1.1% | -0.0% | -4.0% | |
| Q4 2021 | -3.9% | +1.8% | -2.9% | |
| Q3 2021 | +3.7% | +11.3% | +27.0% | |
| Q2 2021 | +3.1% | +1.5% | +3.7% | |
| Q1 2021 | +5.7% | +7.2% | +11.9% | |
| Q4 2020 | -1.7% | -3.7% | +31.8% | |
| Q3 2020 | +7.0% | +15.7% | +32.1% | |
| Q2 2020 | -2.8% | -2.1% | +0.7% | |
| Q1 2020 | +8.6% | -3.3% | +17.8% | |
| Q4 2019 | +1.6% | +2.3% | -4.2% | |
| Q3 2019 | +0.3% | -0.1% | +12.0% | |
| Q2 2019 | +4.2% | +3.5% | -3.4% | |
| Q1 2018 | -0.1% | -2.4% | -2.5% | |
| Q1 2019 | +1.5% | -0.8% | -1.6% | |
| Q2 2018 | +6.8% | +7.1% | +2.3% | |
| Q4 2017 | +6.8% | +7.1% | +2.3% | |
| Q4 2018 | +0.9% | -2.5% | +10.1% | |
| Q3 2017 | -1.1% | +1.0% | -13.3% | |
| Q3 2018 | -4.6% | -0.9% | -4.4% | |
| Q2 2017 | +2.3% | +5.3% | +3.8% | |
| Q1 2017 | — | — | — |
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