Recent Insider Transactions Derivative • May 04
President of CCBX Division & Director notifies of intention to sell stock Brian Hamilton intends to sell 10k shares in the next 90 days after lodging an Intent To Sell Form on the 1st of May. If the sale is conducted around the recent share price of US$75.44, it would amount to US$778k. Since June 2025, Brian's direct individual holding has increased from 28.20k shares to 74.57k. Company insiders have collectively sold US$3.3m more than they bought, via options and on-market transactions in the last 12 months. Announcement • May 02
Coastal Financial Corporation Reports Charge Offs for the First Quarter Ended March 31, 2026 Coastal Financial Corporation reported charge offs for the first quarter ended March 31, 2026. For the period, the company reported net charge-offs of $49,587,000 compared to $48,200,000 a year ago. Price Target Changed • May 01
Price target decreased by 16% to US$106 Down from US$126, the current price target is an average from 4 analysts. New target price is 39% above last closing price of US$76.39. Stock is down 6.1% over the past year. The company is forecast to post earnings per share of US$4.40 for next year compared to US$3.12 last year. Reported Earnings • Apr 30
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: US$0.79 (up from US$0.65 in 1Q 2025). Revenue: US$98.0m (up 17% from 1Q 2025). Net income: US$12.0m (up 24% from 1Q 2025). Profit margin: 12% (in line with 1Q 2025). Revenue exceeded analyst estimates by 7.8%. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Apr 14
Coastal Financial Corporation, Annual General Meeting, May 27, 2026 Coastal Financial Corporation, Annual General Meeting, May 27, 2026. Location: register at, United States Recent Insider Transactions Derivative • Apr 07
President of CCBX Division & Director notifies of intention to sell stock Brian Hamilton intends to sell 2k shares in the next 90 days after lodging an Intent To Sell Form on the 30th of March. If the sale is conducted around the recent share price of US$75.82, it would amount to US$164k. Since June 2025, Brian's direct individual holding has increased from 28.20k shares to 77.88k. Company insiders have collectively sold US$3.4m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Mar 02
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: US$3.12. Revenue: US$349.0m (up 15% from FY 2024). Net income: US$47.0m (up 3.9% from FY 2024). Profit margin: 14% (down from 15% in FY 2024). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 7.14% (down from 7.18% in FY 2024). Cost-to-income ratio: 53.1% (up from 42.4% in FY 2024). Non-performing loans: 1.71% (down from 1.79% in FY 2024). Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates by 6.1%. Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Banks industry in the US. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$84.97, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 11x in the Banks industry in the US. Total returns to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$162 per share. Major Estimate Revision • Feb 02
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$652.4m to US$617.0m. EPS estimate also fell from US$6.07 per share to US$5.28 per share. Net income forecast to grow 55% next year vs 14% growth forecast for Banks industry in the US. Consensus price target down from US$138 to US$132. Share price fell 10% to US$98.41 over the past week. Recent Insider Transactions Derivative • Jan 29
CEO & Director exercised options and sold US$920k worth of stock On the 26th of January, Eric Sprink exercised 10.79k options at around US$6.25, then sold 9k of the shares acquired at an average of US$108 per share and kept the remainder. For the year to December 2019, Eric's total compensation was 45% salary and 55% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Eric's direct individual holding has decreased from 101.78k shares to 22.70k. Company insiders have collectively sold US$3.8m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Dec 09
Vice Chairman recently sold US$635k worth of stock On the 8th of December, Steven Hovde sold around 6k shares on-market at roughly US$113 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Steven's only on-market trade for the last 12 months. Buy Or Sell Opportunity • Dec 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.6% to US$107. The fair value is estimated to be US$135, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 121% in 2 years. Earnings are forecast to grow by 147% in the next 2 years. Buy Or Sell Opportunity • Nov 13
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.8% to US$105. The fair value is estimated to be US$135, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 121% in 2 years. Earnings are forecast to grow by 147% in the next 2 years. Reported Earnings • Oct 30
Third quarter 2025 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2025 results: EPS: US$0.90. Revenue: US$88.1m (up 7.4% from 3Q 2024). Net income: US$13.6m (up 1.0% from 3Q 2024). Profit margin: 15% (down from 16% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Banks industry in the US. Price Target Changed • Oct 09
Price target increased by 8.4% to US$125 Up from US$116, the current price target is an average from 5 analysts. New target price is 13% above last closing price of US$111. Stock is up 105% over the past year. The company is forecast to post earnings per share of US$3.35 for next year compared to US$3.35 last year. Announcement • Oct 03
Coastal Financial Corporation Announces Resignation of Andrew Stines as Executive Vice President and Chief Risk Officer, Effective October 1, 2025 On September 29, 2025, Andrew Stines resigned as Executive Vice President and Chief Risk Officer of Coastal Financial Corporation (the “Company"), effective October 1, 2025, in order to pursue other professional opportunities. Mr. Stine’s resignation is not the result of any disagreement with Coastal or its Board of Directors. Recent Insider Transactions • Sep 19
Independent Director recently sold US$475k worth of stock On the 15th of September, Stephan Klee sold around 4k shares on-market at roughly US$109 per share. This transaction amounted to 61% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.3m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Sep 16
Independent Director notifies of intention to sell stock Stephan Klee intends to sell 4k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of September. If the sale is conducted around the recent share price of US$109, it would amount to US$475k. Since June 2025, Stephan has owned 7.13k shares directly. Company insiders have collectively sold US$1.0m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Aug 13
Coastal Financial Corporation and Coastal Community Bank Expands Executive Team with Key Leadership Appointments Coastal Financial Corporation and its subsidiary, Coastal Community Bank announced the appointment of four new members to its executive leadership team to support the Company’s continued growth across its digital banking and community-focused initiatives. Ryan Hall has joined as Chief Product Officer, Michael Costigan has been appointed Chief Commercial Officer, Freddy Rivas has joined as Chief Credit Officer and Chris Morgan has been named Chief Information Security Officer. Each executive brings deep industry experience and a strong track record of leadership in financial services, technology, and risk management. Mr. Hall brings a background in product strategy and innovation, having most recently served as Head of Product, Engineering, and Design at SoFi Bank. There, he led the development of core consumer banking products and helped launch the bank’s platform services. He previously worked with The Boston Consulting Group’s Digital Ventures arm, building fintech businesses and advising global banks on transformation strategy. Mr. Costigan joins Coastal from OnePay, a Walmart and Ribbit Capital joint venture, where he served as Vice President of Business Development. At OnePay, he led the company’s $40 million Series B raise, scaled customer growth channels, and negotiated critical agreements across payments, card networks, and new product partnerships. Mr. Rivas brings over two decades of commercial banking and credit leadership experience, most recently as Chief Risk Officer at Santander for consumer and business banking. Prior to that he held various leadership roles at BBVA and Citi where he led credit policy development, managed complex loan portfolios, and built high-performing risk and underwriting teams to support sustained portfolio growth. Mr. Morgan most recently served as Chief Information Security Officer at Even Responsible Finance and OnePay, where he scaled the security function from a team of two to 25 and implemented robust governance programs to support rapid product growth across national channels. Prior to that, he held multiple roles at the Federal Reserve System, where he helped define and implement national security programs and analytics initiatives. Major Estimate Revision • Aug 05
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$628.8m to US$551.0m. EPS estimate fell from US$3.92 to US$3.36 per share. Net income forecast to grow 62% next year vs 16% growth forecast for Banks industry in the US. Consensus price target up from US$111 to US$116. Share price fell 2.1% to US$95.18 over the past week. Price Target Changed • Jul 30
Price target increased by 9.5% to US$115 Up from US$105, the current price target is an average from 4 analysts. New target price is 16% above last closing price of US$99.52. Stock is up 89% over the past year. The company is forecast to post earnings per share of US$3.30 for next year compared to US$3.35 last year. Reported Earnings • Jul 29
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: US$0.73 (down from US$0.86 in 2Q 2024). Revenue: US$87.2m (up 18% from 2Q 2024). Net income: US$11.0m (down 4.9% from 2Q 2024). Profit margin: 13% (down from 16% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 21%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 56% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 29
Coastal Financial Corporation Announces Net Charge-Offs for the Second Quarter Ended June 30, 2025 Coastal Financial Corporation announced Net charge-offs for the second quarter ended June 30, 2025. Net charge-offs totaled $49.3 million for the quarter ended June 30, 2025, compared to $48.2 million for the quarter ended March 31, 2025 and $53.0 million for the quarter ended June 30, 2024. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$96.89, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 11x in the Banks industry in the US. Total returns to shareholders of 154% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$131 per share. New Risk • May 21
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$403k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Recent Insider Transactions • May 21
Executive VP recently sold US$277k worth of stock On the 16th of May, Joel Edwards sold around 3k shares on-market at roughly US$88.44 per share. This transaction amounted to 9.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Joel has been a net seller over the last 12 months, reducing personal holdings by US$817k. Recent Insider Transactions Derivative • May 18
Executive VP notifies of intention to sell stock Joel Edwards intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of May. If the sale is conducted around the recent share price of US$88.44, it would amount to US$277k. Since June 2024, Joel's direct individual holding has increased from 30.87k shares to 33.55k. Company insiders have collectively sold US$1.4m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • May 06
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$725.3m to US$628.6m. EPS estimate fell from US$4.64 to US$3.89 per share. Net income forecast to grow 49% next year vs 14% growth forecast for Banks industry in the US. Consensus price target broadly unchanged at US$109. Share price fell 8.9% to US$79.48 over the past week. Announcement • Apr 30
Coastal Financial Corporation Reports Net Charge-Offs for the First Quarter Ended March 31, 2025 Coastal Financial Corporation reported net charge-offs for the first quarter ended March 31, 2025. Net charge-offs totaled $48.2 million for the quarter ended March 31, 2025, compared to $57.0 million for the quarter ended March 31, 2024. Reported Earnings • Apr 29
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: US$0.65 (up from US$0.51 in 1Q 2024). Revenue: US$83.8m (up 29% from 1Q 2024). Net income: US$9.73m (up 43% from 1Q 2024). Profit margin: 12% (up from 11% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 53% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 09
Coastal Financial Corporation, Annual General Meeting, May 28, 2025 Coastal Financial Corporation, Annual General Meeting, May 28, 2025. Reported Earnings • Mar 18
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: US$3.35. Revenue: US$303.6m (up 21% from FY 2023). Net income: US$45.2m (up 1.4% from FY 2023). Profit margin: 15% (down from 18% in FY 2023). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 7.18% (up from 6.88% in FY 2023). Cost-to-income ratio: 42.4% (down from 44.7% in FY 2023). Non-performing loans: 1.79% (up from 1.78% in FY 2023). Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 51% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$82.99, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the Banks industry in the US. Total returns to shareholders of 71% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$163 per share. Recent Insider Transactions Derivative • Feb 10
CEO & Director exercised options and sold US$419k worth of stock On the 5th of February, Eric Sprink exercised 8.91k options at around US$6.50, then sold 5k of the shares acquired at an average of US$85.02 per share and kept the remainder. For the year to December 2018, Eric's total compensation was 45% salary and 55% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Eric's direct individual holding has decreased from 164.64k shares to 94.90k. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Jan 29
Coastal Financial Corporation Reports Net Charge-Offs Results for the Fourth Quarter Ended December 31, 2024 Coastal Financial Corporation reported net charge-offs results for the fourth quarter ended December 31, 2024. For the quarter, the company reported net charge-offs totaled $55.9 million compared to $44.9 million a year ago. New Risk • Jan 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$85.97, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Banks industry in the US. Total returns to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$148 per share. Announcement • Dec 12
Coastal Financial Corporation has completed a Follow-on Equity Offering in the amount of $85.2 million. Coastal Financial Corporation has completed a Follow-on Equity Offering in the amount of $85.2 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,200,000
Price\Range: $71
Discount Per Security: $3.55 Announcement • Dec 11
Coastal Financial Corporation has filed a Follow-on Equity Offering. Coastal Financial Corporation has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock Price Target Changed • Dec 10
Price target increased by 9.5% to US$83.50 Up from US$76.25, the current price target is an average from 4 analysts. New target price is 12% above last closing price of US$74.69. Stock is up 75% over the past year. The company is forecast to post earnings per share of US$3.32 for next year compared to US$3.36 last year. Price Target Changed • Dec 04
Price target increased by 8.4% to US$80.50 Up from US$74.25, the current price target is an average from 4 analysts. New target price is 5.0% above last closing price of US$76.64. Stock is up 88% over the past year. The company is forecast to post earnings per share of US$3.28 for next year compared to US$3.36 last year. Board Change • Nov 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. President of CCBX Division & Director Brian Hamilton was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Oct 29
Price target increased by 11% to US$71.75 Up from US$64.50, the current price target is an average from 4 analysts. New target price is 11% above last closing price of US$64.51. Stock is up 74% over the past year. The company is forecast to post earnings per share of US$3.30 for next year compared to US$3.36 last year. Reported Earnings • Oct 28
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: US$1.00 (up from US$0.77 in 3Q 2023). Revenue: US$82.0m (up 18% from 3Q 2023). Net income: US$13.5m (up 31% from 3Q 2023). Profit margin: 16% (up from 15% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 2.1%. Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 18% per year. Announcement • Oct 08
Coastal Financial Corporation Appoints Brian Hamilton as President of CCBX Division Coastal Financial Corporation has announced that Brian Hamilton has been appointed as president of CCBX division, the bank's FinTech and banking-as-a-service (BaaS) arm. As part of a reorganisation of the company's leadership structure, the role of president has been bifurcated, with Hamilton leading CCBX, while Curt Queyrouze, president of the company and the bank, will oversee the community bank division and corporate credit. Hamilton, who has over 25 years of experience in financial technology and banking, has held senior leadership roles at Capital One, Wells Fargo, and Verifone. He also founded and operated multiple fintech companies, including ONE and Azlo, a digital bank for small businesses. Recent Insider Transactions • Sep 25
Independent Director recently sold US$128k worth of stock On the 20th of September, Steven Hovde sold around 2k shares on-market at roughly US$53.56 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$186k. Insiders have been net sellers, collectively disposing of US$1.0m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Sep 16
CEO & Director exercised options to buy US$684k worth of stock. On the 13th of September, Eric Sprink exercised options to buy 14k shares at a strike price of around US$7.20, costing a total of US$98k. This transaction amounted to 9.0% of their direct individual holding at the time of the trade. Since March 2024, Eric has owned 164.64k shares directly. Company insiders have collectively sold US$777k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Aug 29
Independent Director recently sold US$186k worth of stock On the 28th of August, Steven Hovde sold around 4k shares on-market at roughly US$53.15 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$773k more than they bought in the last 12 months. Major Estimate Revision • Aug 05
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$687.6m to US$606.3m. EPS estimate fell from US$3.46 to US$3.42 per share. Net income forecast to grow 68% next year vs 9.4% growth forecast for Banks industry in the US. Consensus price target up from US$54.50 to US$62.00. Share price fell 6.6% to US$49.22 over the past week. Price Target Changed • Aug 01
Price target increased by 14% to US$62.00 Up from US$54.50, the current price target is an average from 4 analysts. New target price is 18% above last closing price of US$52.70. Stock is up 18% over the past year. The company is forecast to post earnings per share of US$3.42 for next year compared to US$3.36 last year. Reported Earnings • Jul 30
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: US$0.86 (down from US$0.97 in 2Q 2023). Revenue: US$73.8m (up 7.5% from 2Q 2023). Net income: US$11.6m (down 10% from 2Q 2023). Profit margin: 16% (down from 19% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 18%. Earnings per share (EPS) exceeded analyst estimates by 4.7%. Revenue is forecast to grow 59% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 22% per year. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$50.36, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Banks industry in the US. Total returns to shareholders of 83% over the past three years. Recent Insider Transactions • May 27
Executive VP recently sold US$540k worth of stock On the 24th of May, Joel Edwards sold around 12k shares on-market at roughly US$43.50 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Joel's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • May 26
Executive VP notifies of intention to sell stock Joel Edwards intends to sell 12k shares in the next 90 days after lodging an Intent To Sell Form on the 23rd of May. If the sale is conducted around the recent share price of US$44.45, it would amount to US$552k. Since March 2024, Joel has owned 43.29k shares directly. Company insiders have collectively sold US$919k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Apr 30
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: US$0.51 (down from US$0.94 in 1Q 2023). Revenue: US$64.7m (up 7.7% from 1Q 2023). Net income: US$6.80m (down 45% from 1Q 2023). Profit margin: 11% (down from 21% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) missed analyst estimates by 34%. Revenue is forecast to grow 50% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Apr 06
Coastal Financial Corporation, Annual General Meeting, May 22, 2024 Coastal Financial Corporation, Annual General Meeting, May 22, 2024, at 18:00 Pacific Standard Time. Agenda: To elect Sadhana Akella-Mishra, Brian T. Hamilton, Eric M. Sprink and Pamela R. Unger as directors to serve for a term of three years until the 2027 annual meeting of shareholders; to consider an advisory (non-binding) vote to approve the compensation paid to our named executive officers; to consider an advisory (non-binding) vote on the frequency of future advisory votes on compensation paid to our named executive officers; and to consider other matters. Reported Earnings • Mar 17
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: US$3.36 (up from US$3.14 in FY 2022). Revenue: US$261.9m (up 21% from FY 2022). Net income: US$44.6m (up 9.7% from FY 2022). Profit margin: 17% (down from 19% in FY 2022). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 7.10% (up from 5.97% in FY 2022). Cost-to-income ratio: 45.9% (down from 56.3% in FY 2022). Non-performing loans: 1.77% (up from 1.26% in FY 2022). Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to grow 45% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 06
Consensus revenue estimates increase by 35%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from US$414.5m to US$557.5m. EPS estimate fell from US$4.14 to US$3.80. Net income forecast to grow 17% next year vs 3.7% decline forecast for Banks industry in the US. Consensus price target down from US$55.50 to US$54.38. Share price fell 9.7% to US$38.04 over the past week. Announcement • Jan 31
Coastal Financial Corporation Announces Net Charge Offs for the Quarter Ended December 31, 2023 Coastal Financial Corporation announced net charge offs for the quarter ended December 31, 2023. Net charge-offs in loans were $1.5 million for the three months ended December 31, 2023, compared to $579,000 for the three months ended September 30, 2023 and $216,000 for the three months ended December 31, 2022. Reported Earnings • Jan 30
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: US$3.36 (up from US$3.14 in FY 2022). Revenue: US$261.9m (up 21% from FY 2022). Net income: US$44.6m (up 9.7% from FY 2022). Profit margin: 17% (down from 19% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Announcement • Jan 05
Coastal Financial Corporation Appoints Brian Hamilton to its Board of Directors Coastal Financial Corporation announced that Brian Hamilton has joined its Board of Directors. Mr. Hamilton is a seasoned financial technology executive and business leader, with more than 25 years of experience in the banking, lending, payments, and digital product development industries. A serial entrepreneur, with deep expertise in domestic and international settlement systems and digital platforms, Mr. Hamilton has held senior leadership roles at Capital One, serving as President of their Merchant Services division, Wells Fargo, and Verifone, in addition to founding and operating multiple companies in the fintech space. Most recently Mr. Hamilton was co-founder and CEO of ONE (One Finance Inc.), which was acquired by a Walmart-led joint venture in 2022. Prior to co-founding ONE, he was the founder of Azlo, a digital bank for small businesses, and helped to build out the BBVA Open Platform for sponsor banking services. An honors graduate of Oregon State University, with technical certifications from Wells Fargo’s commercial banking school and various industry groups, Mr. Hamilton has extensive experience across multiple aspects of the finance and technology industries, thought leadership, public speaking, and mergers and acquisitions. Major Estimate Revision • Nov 03
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$475.5m to US$416.1m. EPS estimate fell from US$3.79 to US$3.35 per share. Net income forecast to grow 11% next year vs 10% decline forecast for Banks industry in the US. Consensus price target of US$54.00 unchanged from last update. Share price fell 4.8% to US$38.81 over the past week. Price Target Changed • Nov 01
Price target decreased by 7.1% to US$54.00 Down from US$58.13, the current price target is an average from 3 analysts. New target price is 47% above last closing price of US$36.80. Stock is down 22% over the past year. The company is forecast to post earnings per share of US$3.35 for next year compared to US$3.14 last year. Reported Earnings • Oct 29
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: US$0.77 (down from US$0.86 in 3Q 2022). Revenue: US$69.6m (up 6.8% from 3Q 2022). Net income: US$10.3m (down 7.5% from 3Q 2022). Profit margin: 15% (down from 17% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the last 3 years on average, earnings per share has increased by 37% per year whereas the company’s share price has increased by 38% per year. Announcement • Oct 28
Coastal Financial Corporation Reports Unaudited Net Charge-Offs for the Quarter Ended September 30, 2023 Coastal Financial Corporation reported unaudited net charge-offs for the quarter ended September 30, 2023. For the quarter, the company reported Net charge-offs totaled $36.8 million as compared to $8.5 million for the quarter ended September 30, 2022. Announcement • Aug 02
Coastal Financial Corporation Announces Management Appointments Coastal Financial Corporation announced that Brian Ferrell has joined the Bank as Executive Vice President, Head of Financial Crimes Compliance, and Bill Rhodes has joined as Executive Vice President, Chief Audit Executive. Brian is a seasoned corporate regulatory and federal government leader with more than 30 years of expertise in the financial services sector. He has deep expertise in the Anti-Money Laundering (AML) rules and regulations relating to the Bank Secrecy Act/USA PATRIOT managing the complex regulatory and compliance demands faced by diversified financial services institutions. A graduate of Creighton University with a B.A., Creighton University School of Law with a Juris Doctorate, and Vermont Law and Graduate School with a master's in environmental law and policy, he held leadership roles at the U.S. Department of the Treasury, The Hartford Financial Services Group, and most recently EY, as Principal, Senior Financial Crimes Compliance Practice Leader. Bill is an executive internal audit leader with more than 20 years of experience spanning both internal and external audit across the Financial Services sector, most recently in scaling the internal audit function of Silicon Valley Bank. Prior to his time at Silicon Valley Bank, Bill worked for PricewaterhouseCoopers, TD Bank Financial Group, and Arthur Andersen. As a graduate of York University with a B.A. in Psychology, University of Windsor with a Bachelor of Commerce with honors, and a Canadian Chartered Accountant, Bill has a track record of leading and transforming the Internal Audit function of rapidly growing financial services institutions. His work includes leading independent assessments on a wide range of topics affecting the financial services industry. Reported Earnings • Jul 28
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: US$0.97 (up from US$0.79 in 2Q 2022). Revenue: US$68.3m (up 33% from 2Q 2022). Net income: US$12.9m (up 27% from 2Q 2022). Profit margin: 19% (in line with 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.3%. Revenue is forecast to grow 57% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 28
Coastal Financial Corporation Reports Unaudited Net Charge-Offs Results for the Second Quarter Ended June 30, 2023 Coastal Financial Corporation reported unaudited net charge-offs results for the second quarter ended June 30, 2023. For the quarter, the group reported total net charge-offs of $30,959,000 against $3,506,000 a year ago. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$40.40, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Banks industry in the US. Total returns to shareholders of 175% over the past three years. Recent Insider Transactions Derivative • Mar 19
CEO & Director exercised options to buy US$1.5m worth of stock. On the 14th of March, Eric Sprink exercised options to buy 40k shares at a strike price of around US$6.25, costing a total of US$249k. This transaction amounted to 30% of their direct individual holding at the time of the trade. Since March 2022, Eric's direct individual holding has increased from 28.05k shares to 137.22k. Company insiders have collectively bought US$1.2m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Mar 18
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: US$3.14 (up from US$2.25 in FY 2021). Revenue: US$217.4m (up 123% from FY 2021). Net income: US$40.6m (up 50% from FY 2021). Profit margin: 19% (down from 28% in FY 2021). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 5.97% (up from 3.73% in FY 2021). Cost-to-income ratio: 56.3% (down from 58.8% in FY 2021). Non-performing loans: 1.26% (up from 0.10% in FY 2021). Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 4.1%. Revenue is forecast to grow 42% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Mar 15
Independent Director recently bought US$1.1m worth of stock On the 14th of March, Steven Hovde bought around 30k shares on-market at roughly US$37.71 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$896k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$38.84, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Banks industry in the US. Total returns to shareholders of 179% over the past three years. Recent Insider Transactions Derivative • Mar 05
Executive VP & COO exercised options and sold US$53k worth of stock On the 2nd of March, John Dickson exercised 2.25k options at around US$6.25, then sold 2k of the shares acquired at an average of US$41.25 per share and kept the remainder. Since March 2022, John's direct individual holding has decreased from 26.00k shares to 22.50k. Company insiders have collectively sold US$301k more than they bought, via options and on-market transactions in the last 12 months. Announcement • Jan 28
Coastal Financial Corporation Reports Net Charge Off for the Fourth Quarter Ended December 31, 2022 Coastal Financial Corporation reported net charge off for the fourth quarter ended December 31, 2022. Net charge-offs totaled $18.9 million for the quarter ended December 31, 2022, compared to $532,000 for the quarter ended December 31, 2021. Reported Earnings • Jan 27
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: US$3.14 (up from US$2.25 in FY 2021). Revenue: US$217.4m (up 123% from FY 2021). Net income: US$40.6m (up 50% from FY 2021). Profit margin: 19% (down from 28% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 4.1%. Revenue is forecast to grow 40% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 37% per year whereas the company’s share price has increased by 36% per year. Announcement • Jan 25
Coastal Financial Corporation Appoints Barb Maclean as Senior Vice President, Head of Technology Operations and Implementation Coastal Financial Corporation announced that Barb MacLean has joined the Bank as Senior Vice President, Head of Technology Operations and Implementation. Ms. MacLean is a seasoned fintech leader with more than 21 years of experience building and operating mission-critical banking, integration, data, and payments platforms. She has deep experience in APIs and integration, using data to maximize efficiencies, and is a versatile, seasoned speaker with a well-respected newsletter, Fintech Playlist. A graduate of Brandon University, she led Celero Solutions in various capacities most recently as vice president of Integration and analytics. Recent Insider Transactions • Dec 15
CEO & Director recently sold US$640k worth of stock On the 13th of December, Eric Sprink sold around 13k shares on-market at roughly US$51.13 per share. This transaction amounted to 6.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Eric's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Nov 24
CEO & Director exercised options and sold US$463k worth of stock On the 22nd of November, Eric Sprink exercised 93.51k options at around US$5.50, then sold 11k of the shares acquired at an average of US$48.15 per share and kept the remainder. For the year to December 2017, Eric's total compensation was 15% salary and 85% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2022, Eric has owned 28.05k shares directly. Company insiders have collectively sold US$42k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 23
Executive VP & COO recently sold US$77k worth of stock On the 22nd of November, John Dickson sold around 2k shares on-market at roughly US$48.38 per share. This transaction amounted to 6.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by US$162k. Reported Earnings • Oct 28
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: US$0.86 (up from US$0.56 in 3Q 2021). Revenue: US$65.2m (up 164% from 3Q 2021). Net income: US$11.1m (up 66% from 3Q 2021). Profit margin: 17% (down from 27% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 28
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: US$0.79 (up from US$0.58 in 2Q 2021). Revenue: US$51.3m (up 123% from 2Q 2021). Net income: US$10.2m (up 45% from 2Q 2021). Profit margin: 20% (down from 31% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) also surpassed analyst estimates by 49%. Over the next year, revenue is forecast to grow 116%, compared to a 15% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 38% per year. Price Target Changed • Jul 14
Price target decreased to US$62.50 Down from US$67.88, the current price target is an average from 4 analysts. New target price is 69% above last closing price of US$37.08. Stock is up 22% over the past year. The company is forecast to post earnings per share of US$2.29 for next year compared to US$2.25 last year.