Coastal Financial Corporation (CCB) Q1 Earnings and Revenues Lag Estimates

Core Viewpoint - Coastal Financial Corporation (CCB) reported quarterly earnings of $0.63 per share, missing the Zacks Consensus Estimate of $0.93 per share, representing a -32.26% earnings surprise [1] - The company posted revenues of $139.54 million for the quarter, missing the Zacks Consensus Estimate by 7.77% and down from $147.89 million a year ago [2] Financial Performance - Earnings per share (EPS) for the current quarter is $0.63, compared to $0.67 per share a year ago [1] - The company has surpassed consensus EPS estimates two times over the last four quarters [2] - Revenue for the quarter was $139.54 million, compared to $147.89 million in the same quarter last year [2] Market Performance - Coastal Financial shares have increased by approximately 3.6% since the beginning of the year, while the S&P 500 has declined by 6% [3] - The current Zacks Rank for Coastal Financial is 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.14 on revenues of $160 million, and for the current fiscal year, it is $4.59 on revenues of $669.5 million [7] - The outlook for the industry, specifically the Banks - West sector, is in the bottom 42% of over 250 Zacks industries, which may impact stock performance [8]