Added to YB: 2026-08-11
Pitch date: 2026-08-11
CCB [bullish]
Coastal Financial Corporation
-10.58%
current return
Author Info
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Company Info
Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to consumers and small and medium-sized businesses in the Puget Sound region in Washington.
Market Cap
$707.4M
Pitch Price
$51.75
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
-180.52
EV/Sales
N/A
Sector
Banks
Category
value
Cluster buy after stock falls 40% on 'one-time loss'
CCB (earnings): Q2 swung to a $42.1mm net loss (EPS -$2.76 vs +$0.71 y/y), driven by $68.8mm of CCBX credit expense tied to a single partner ($46.0mm receivable write-down + $22.8mm provision); stock -44% on print, -60% YTD. Underlying ops strong: NII +16.4% to $89.4mm, NIM +21bps to 7.27%, BaaS income +57%. Mgmt says isolated one-off. CET1 fell to 10.97% (still >well-capitalized), $102mm S-3 shelf raises dilution risk. Now ~1.6x P/TBV vs 2.55x 5y median; bull case re-rate to 2-2.2x if the partner loss proves non-structural—but no read-through until next earnings.
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