Coastal Finl: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Coastal Financial Corporation (NASDAQ:CCB) reported Q4 earnings with an EPS of $0.66, missing the estimate of $0.73 by 9.59%. Revenue increased by $28.10 million compared to the same period last year. The company had previously missed EPS estimates last quarter, resulting in a 4.52% share price drop the following day.
January 30, 2024 | 2:40 pm
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Coastal Financial Corporation reported lower than expected Q4 earnings, missing EPS estimates, which could lead to a potential decrease in stock price, similar to the last quarter's earnings miss.
Given that Coastal Financial missed its EPS estimate and that a similar miss last quarter resulted in a 4.52% drop in stock price the next day, it is likely that the stock price may again react negatively in the short term. However, the increase in revenue could mitigate some of the negative impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100