Coastal Financial: Heightened Risk Appetite Is Hurting Value Generation Capability [Seeking Alpha]
Coastal Financial Corporation (CCB)
Last coastal financial corporation earnings: 4/27 09:25 am
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Source: Seeking Alpha
Summary Coastal Financial's CCBX segment leverages fintech partnerships for banking services but suffers from low margins and substandard underwriting, impacting profitability and asset quality. Despite strong loan growth, Coastal Financial's increased risk appetite and poor asset quality have led to significant provisions for credit losses and declining net income. The market overvalues Coastal Financial, trading at higher multiples than peers, due to perceived growth potential, despite inherent weaknesses in asset quality and risk management. I recommend a cautious BUY rating, acknowledging the growth potential but emphasizing the need for better underwriting standards and risk management to enhance long-term value. Peter Cade/DigitalVision via Getty Images Innovation in the financial sector has little room compared to other industries, in the banking industry it is much more difficult. Coastal Financial Corp.'s ( NASDAQ: CCB ) banking as a service segment, CCBX, is an
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News
- Pomelo launches most secure international money transfer product [Yahoo! Finance]Yahoo! Finance
- Prosper Wins 2024 Tearsheet Award for 'Best Consumer Lending Program' [Yahoo! Finance]Yahoo! Finance
- Are Investors Undervaluing Coastal Financial (CCB) Right Now? [Yahoo! Finance]Yahoo! Finance
- KlariVis Announces 2024 Banking on Brilliance Award Winners [Yahoo! Finance]Yahoo! Finance
- Coastal Financial Co. (NASDAQ: CCB) had its price target raised by analysts at Keefe, Bruyette & Woods from $70.00 to $75.00. They now have an "outperform" rating on the stock.MarketBeat
CCB
Earnings
- 10/29/24 - Beat
CCB
Sec Filings
- 11/14/24 - Form SC
- 11/12/24 - Form 4
- 11/12/24 - Form 4
- CCB's page on the SEC website