Coastal Financial
Runs community banking in Puget Sound and CCBX Banking-as-a-Service for fintech partners.
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Profile
Operates a Washington community bank and CCBX, a Banking-as-a-Service platform that lets digital financial-service partners offer banking services. The model combines local deposits and lending with partner programs whose growth depends on onboarding, product expansion, and sponsor-bank controls.
Community banking provides deposits and loans to consumers and small to medium-sized businesses in the broader Puget Sound region, with branch, internet, and mobile access.
CCBX extends the bank through Banking-as-a-Service, letting digital financial-service partners, companies, and brands offer banking services to their own customers. Product activity spans deposit programs, credit cards, lines of credit, and other lending products, while treasury and administration holds investments, debt, and other shared items.
Execution depends on two operating systems: local deposit and lending discipline in Washington, and sponsor-bank oversight for fintech partner programs. Recent context includes a restatement tied to certain fintech partner loans and identified internal-control weaknesses, so the CCBX model is shaped by partner growth, credit enhancements, and control quality.
Company facts
Categories
Key statistics
Year to date −57.3% · Average volume (30d) 349.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 31, 2026 | Cowen & Co. | Reiterate | Buy | $47 | ||
| Jul 31, 2026 | Raymond James | Downgrade | Strong Buy | Outperform | $105 | $50 |
| May 1, 2026 | Stephens | Target | $110 | |||
| Dec 5, 2025 | UBS | Target | $155 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $1.01 | −$2.76 | −373.3% | $148.5M | $178.1M | +19.9% | −43.52% |
| Apr 29, 2026Q1 FY26 | $1.02 | $0.78 | −23.5% | $138.6M | $149.4M | +7.8% | −0.12% |
| Jan 29, 2026Q4 FY25 | $1.16 | $0.82 | −29.3% | $140.7M | $138.0M | −1.9% | −4.99% |
| Oct 29, 2025Q3 FY25 | $0.87 | $0.88 | +0.8% | $138.1M | $140.8M | +2.0% | −0.70% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $133.9M | $115.2M | $140.8M | $166.5M | $177.8M | $302.1M | |
| Gross profit | $49.3M | $51.9M | $53.1M | $90.0M | $98.0M | $180.8M | |
| Operating income | $11.8M | $14.4M | $17.9M | $17.2M | $14.6M | $39.7M | |
| Net income | $9.7M | $11.0M | $13.6M | $12.6M | $12.0M | −$42.1M | |
| Diluted EPS | $0.63 | $0.71 | $0.88 | $0.82 | $0.78 | −$2.72 | |
| Gross margin | 36.8% | 45.1% | 37.7% | 54.0% | 55.2% | 59.8% | |
| Operating margin | 8.8% | 12.5% | 12.7% | 10.3% | 8.2% | 13.1% |
Fiscal years (4-quarter sums)FY21 $105.5M · FY22 $234.0M · FY23 $443.5M · FY24 $575.8M · FY25 $556.5M
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $48.1M · Total debt $52.6M · Total assets $5.46B · Shareholders' equity $463.4M
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 15.25M · Float 13.20M · 86.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Steven D. Hovde · director, 10 percent owner: | 1.74M | 11.44% | Form 4 | Aug 7, 2026 |
| T. Rowe Price Investment Management, Inc. | 1.35M | 8.88% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 1.10M | 7.23% | 13F | Aug 7, 2026 |
| State Street Corp | 583.0K | 3.82% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 573.6K | 3.76% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | Christopher D. Adams | director, officer: Executive Chair | +290 | $45.15 |
| Aug 6, 2026 | Eric M. Sprink | director, officer: CEO | +10,000 | $44.45 |
| Aug 6, 2026 | Steven D. Hovde | director, 10 percent owner: | +10,000 | $43.83 |
| Aug 5, 2026 | Steven D. Hovde | director, 10 percent owner: | +5,000 | $44.00 |
| Jun 2, 2026 | Brian T. Hamilton | director, officer: President of CCBX | −7,000 | $71.42 |
Peers
- The Bancorp
Fintech sponsor bank with scale in payments and sponsored lending
- Pathward Financial
Partner-solutions bank for card issuing, payments, and credit
- FinWise Bancorp
Smaller fintech bank focused on strategic program lending
- Green Dot
Embedded-finance bank with BaaS, prepaid cards, and payments
- Customers Bancorp
Tech-forward commercial bank with BaaS and instant payments
- Banner
Pacific Northwest bank competing for deposits and commercial loans
- Heritage Financial
Washington community bank competing in SMB loans and deposits
- Columbia Banking System
Scaled Northwest regional bank competing in treasury and lending
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Coastal Financial | $48.48 | +0.23% | $739.3M | — | 10.0 | 0.9 | +54.6% |
| The Bancorp | $65.70 | −0.05% | $2.74B | 12.3 | 9.5 | 3.6 | −24.0% |
| Pathward Financial | $81.50 | +0.12% | $1.72B | 10.2 | 8.7 | 2.1 | −3.1% |
| FinWise Bancorp | $14.11 | −0.21% | $193.4M | 14.7 | 17.5 | 1.0 | +116.8% |
| Green Dot | $13.34 | −0.07% | $756.1M | — | 8.3 | 0.3 | +17.3% |
| Customers Bancorp | $78.58 | 0.00% | $2.66B | 9.6 | 8.7 | 1.8 | +12.4% |
| Banner | $70.50 | −0.01% | $2.40B | 11.6 | 11.3 | 3.6 | +6.1% |
| Heritage Financial | $28.67 | +0.02% | $1.18B | 13.6 | 11.8 | 3.5 | +48.9% |
| Columbia Banking System | $30.07 | 0.00% | $8.50B | 12.0 | 9.6 | 2.4 | +33.1% |
| Median | 12.0 | 9.5 | 2.3 | +14.8% |