Coastal Financial Corp (EVERETT) reports results for the quarter ended in June - Earnings Summary

Coastal Financial (EVERETT)

29/07/2024 17:04

* Coastal Financial Corp (EVERETT)  CCB.OQ  reported
quarterly
adjusted earnings of 84 cents​​ per share for the quarter ended
in June, lower than the same quarter last year, when the company
reported EPS of 95 cents.  The mean expectation of four analysts
for the quarter was for earnings of 80 cents per share. Wall
Street expected results to range from 77 cents to 83 cents per
share.
    * Revenue rose 12.9% to $136.16 million from a year ago;
analysts
expected $166.46 million. 
    * Coastal Financial Corp (EVERETT)'s reported EPS for the
quarter
was 84 cents​.
    * The company reported quarterly net income of $11.6
million.
    * Coastal Financial Corp (EVERETT) shares had risen by 14.7%
this
quarter and gained 19.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 4 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
 "buy."

Wall Street's median 12-month price target for Coastal Financial
Corp (EVERETT) is $54.00 
This summary was machine generated from LSEG data July 29 at
04:04 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.80           0.84           Beat
 Mar. 31 2024      0.76           0.50           Missed
 Dec. 31 2023      0.73           0.66           Missed
 Sep. 30 2023      0.93           0.75           Missed