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Seacoast Banking Corporation Of Florida (SBCF)
NASDAQ:SBCF
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Earnings Data
Report Date
Jan 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.34Last Year’s EPS
0.43Same Quarter Last Year
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2018
|% Change Since: 0.67%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Positive
The earnings call presented a generally positive outlook for Seacoast Banking Corporation, with significant growth in loans and deposits, improved financial metrics, and a strong capital position. Despite the challenges posed by recent hurricanes and modest increases in deposit costs, the company is optimistic about future margin expansion and continued financial growth.Company Guidance
During the third quarter of 2024, Seacoast Banking Corporation demonstrated significant financial growth, aligning with their strategic guidance. The company reported net income of $30.7 million, equivalent to $0.36 per share, with pretax pre-provision earnings on an adjusted basis increasing by nearly $2 million quarter-over-quarter. Tangible book value per share rose by 20% annualized, reaching $16.20. The quarter was marked by an annualized loan growth of 6.6% and customer deposit growth of 6.6%, excluding brokered deposits. The bank's core net interest margin expanded by 3 basis points to 2.90%, and net interest income increased by 2%. Noninterest income surged 33% year-over-year, driven by wealth management and insurance services, contributing to a 7% rise from the previous quarter. The management remains committed to maintaining strong conservative balance sheet principles, with a Tier 1 capital ratio of 14.8% and a tangible common equity to tangible assets ratio of 9.6%, anticipating continued margin expansion and loan growth into 2025.Strong Loan and Deposit Growth
Annualized loan growth of 7% and customer deposit growth of 7%. Loan originations up 22% quarter-over-quarter, and commercial noninterest-bearing demand deposits grew by $67 million.
Impressive Financial Metrics
Net interest income, noninterest income, pretax pre-provision earnings, and net interest margin improved sequentially. Tangible book value per share increased by 20% annualized to $16.20.
Growth in Noninterest Income
Noninterest income increased 7% from the prior quarter and 33% from the prior year quarter. Wealth management revenues year-to-date reached $11.1 million, up 17% from the prior year.
Strong Capital Position
Seacoast's Tier 1 capital ratio is 14.8%, and the ratio of tangible common equity to tangible assets is 9.6%.
Positive Outlook for Margin Expansion
Expected continued expansion of net interest income and core net interest margin driven by loan and deposit growth and declining deposit costs.
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SBCF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SBCF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $26.90 | $26.17 | -2.71% |
| Jul 25, 2024 | $28.29 | $28.33 | +0.14% |
| Apr 25, 2024 | $23.15 | $22.89 | -1.12% |
| Jan 25, 2024 | $25.58 | $25.43 | -0.59% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Seacoast Banking Corporation Of Florida (SBCF) report earnings?
Seacoast Banking Corporation Of Florida (SBCF) is schdueled to report earning on Jan 27, 2025, TBA Not Confirmed.
What is Seacoast Banking Corporation Of Florida (SBCF) earnings time?
Seacoast Banking Corporation Of Florida (SBCF) earnings time is at Jan 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SBCF EPS forecast?
SBCF EPS forecast for the fiscal quarter 2024 (Q4) is 0.34.
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