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Seacoast Banking Corporation Of Florida (SBCF)
NASDAQ:SBCF
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Seacoast Banking Of Florida
(NASDAQ:SBCF)
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Rating:62Neutral
Price Target:
$36.00
â–²(6.67% Upside)
Action:ReiteratedDate:01/30/26
Overall score reflects solid technical positioning and a strong, upbeat earnings narrative with robust growth and capital strength, tempered by weak recent financial growth signals (notably the steep revenue growth decline and negative free cash flow growth). Valuation and dividend are supportive but not compelling enough to offset the growth concerns.
Positive Factors
Strong Net Income Growth
Significant net income growth indicates robust financial health and operational efficiency, supporting long-term profitability.
Successful Acquisitions
Strategic acquisitions expand market presence and enhance liquidity, positioning the company for sustained growth and competitive advantage.
Share Repurchase Program
The expanded share repurchase program signals confidence in financial stability and enhances shareholder value over the long term.
Negative Factors
Declining Revenue Growth
A sharp decline in revenue growth can hinder future expansion and affect the company's ability to invest in new opportunities.
Decreasing Free Cash Flow
Reduced free cash flow growth limits the company's ability to fund operations and strategic initiatives, impacting long-term sustainability.
Tight Credit Spreads
Tight credit spreads may compress margins and limit profitability in competitive lending markets, affecting long-term financial performance.
Seacoast Banking Of Florida (SBCF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.29B
Dividend Yield2.25%
Average Volume (3M)602.60K
Price to Earnings (P/E)21.3
Beta (1Y)0.95
Revenue Growth6.83%
EPS Growth23.44%
CountryUS
Employees1,518
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.44
Shares Outstanding97,828,150
10 Day Avg. Volume659,806
30 Day Avg. Volume602,596
Financial Highlights & Ratios
PEG Ratio1.44
Price to Book (P/B)0.91
Price to Sales (P/S)3.19
P/FCF Ratio0.00
Enterprise Value/Market Cap1.36
Enterprise Value/Revenue4.96
Enterprise Value/Gross Profit7.90
Enterprise Value/Ebitda22.04
Forecast
1Y Price Target
$35.75Price Target Upside5.93% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Seacoast Banking Of Florida Business Overview & Revenue Model
Company DescriptionSeacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; and brokerage and annuity services. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal or family purposes. As of December 31, 2021, it had 54 branch and commercial lending offices. The company was founded in 1926 and is headquartered in Stuart, Florida.
How the Company Makes MoneySeacoast Banking of Florida generates revenue primarily through interest income and non-interest income. Interest income is earned from loans, which include personal loans, commercial loans, and mortgages, where the bank charges interest on the money lent to customers. Non-interest income is derived from various fees and charges, including service fees on deposit accounts, transaction fees, and wealth management services. Additionally, the bank may earn revenue from investment securities and other financial products. Key partnerships with local businesses and real estate developers can also contribute to loan growth and service expansion, enhancing overall earnings. Various economic factors, including interest rate changes and local market conditions, also play a significant role in the bank's financial performance.
Seacoast Banking Of Florida Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive operating and strategic picture: strong organic loan growth (15% annualized), rapid net interest income and margin expansion, meaningful fee and wealth momentum (AUM +37% YoY and $550M new AUM), a strengthened balance sheet and better-than-expected capital from the VBI acquisition that enabled a securities reposition with significant yield pickup. Near-term lowlights are largely acquisition-related and transitory — merger/integration costs, day-one provisions, intangible amortization, and some accretion volatility — plus seasonally higher Q1 expenses and localized real estate pockets of weakness. Given robust guidance for 2026, solid capital metrics, and management’s articulation of path to improved efficiency and returns post-conversion, the positive operating and capital developments outweigh the manageable near-term costs and risks.Q4-2025 Updates
Positive Updates
Strong Adjusted Earnings and Profitability
Adjusted net income (excludes merger-related charges) increased 18% year-over-year to $47.7 million in 4Q25; pretax pre-provision adjusted earnings rose to $93.2 million, up 39% quarter-over-quarter and 65% year-over-year. Excluding day-one provisioning and merger costs, 4Q25 ROA was 1.22% and return on tangible equity was 15.72%.
Robust Loan Growth
Loan outstandings grew at a 15% annualized rate (organic growth) in the quarter, driven by commercial production and incremental mortgage volume from the Villages (VBI) acquisition; commercial production increased 22% from the prior quarter.
Net Interest Income and Margin Expansion
Tax-equivalent net interest income increased $42.3 million (32%) versus the prior quarter and $60.1 million (52%) versus the prior year quarter. Net interest income was $174.6 million (up 31% QoQ). Net interest margin expanded to 3.66% (including accretion) and to 3.44% excluding accretion (12 bps QoQ expansion excluding accretion). Loan yields rose to 6.02% (6 bps QoQ) and 5.68% excluding accretion (7 bps QoQ).
Wealth Management and Fee Income Momentum
Wealth management added $550 million of new AUM in 2025; total AUM rose 37% year-over-year (5-year CAGR of 23%). Noninterest income was $28.6 million in 4Q25, up 20% from the prior quarter, and wealth income grew 21% QoQ.
Deposits, Funding Cost Improvement and Liquidity
Total deposits increased to $16.3 billion (average balances up 29% QoQ, reflecting the VBI acquisition and seasonality). Cost of deposits declined to 1.67% and exited the year at 1.64%; overall cost of funds fell 16 basis points from the prior quarter. Management emphasized a diverse deposit mix with customer transaction accounts at 48% of deposits.
Capital Strength and Faster Earn-Back from Acquisition
Tier 1 capital ratio of 14.4% and tangible equity to tangible assets at 9.3%. The VBI acquisition closed with materially higher tangible equity than projected, delivering roughly 90 bps (~$92 million) of additional total risk-based capital versus initial deal assumptions and shortening the earn-back period.
Securities Reposition Delivered Yield Pickup and TBV Recovery
Securities portfolio grew to $5.75 billion pro forma VBI. Management sold ~ $1.5 billion of the VBI securities portfolio (including >$600M corporate debt) and later sold $317M of AFS securities (book yield <2%), reinvesting $277M at a taxable-equivalent yield of 4.8% (pickup ~290 bps). Net unrealized losses in AFS improved $18.5 million in 4Q and $137 million for 2025, adding ~ $1 to tangible book value. Portfolio yield rose 21 bps to 4.13% in 4Q25.
Positive 2026 Guidance
Management expects FY2026 adjusted EPS of $2.48–$2.52 (raised vs prior $2.46 articulation), adjusted revenue growth of 29–31% YoY, adjusted efficiency ratio of 53–55%, exit-year ROA above 1.30% and return on tangible equity of ~16% post Villages conversion. Company plans ~15% increase in banker headcount in 2026, and expects high-single-digit loan growth and low- to mid-single-digit deposit growth.
Negative Updates
Higher Noninterest Expense Driven by Acquisition Costs
Noninterest expense in 4Q25 was $130.5 million, up $28.5 million QoQ, which included $18.1 million of merger and integration costs and $23.4 million of day-one credit provisions related to the Villages acquisition; higher salaries, benefits and outsourced data processing also contributed.
Day-One Provisions and Intangible Amortization Impact Earnings
Initial provisions for loans and unfunded commitments on the VBI acquisition totaled $23.4 million (day-one). Amortization of intangible assets added $10.4 million to 4Q expenses (now included in adjusted efficiency calculation), creating near-term dilution and added volatility to reported results.
Adjusted Efficiency Ratio Still Mid-50s
Although improved, the adjusted efficiency ratio remains in the mid-50s (54.5% in 4Q25), which management notes is higher than some street expectations and reflects near-term acquisition-related expenses and planned banker hiring.
Accretion Volatility and Earnings Noise
Purchase accounting accretion from acquired loans is expected to be volatile (dependent on payoff speeds) and management noted accretion/ core deposit intangible effects largely offset each other, reducing net benefit; timing and variability can introduce quarterly earnings noise.
Slight Increase in Nonperforming/Criticized Loans from Acquisition
Nonperforming, criticized and classified loans grew slightly with isolated additions from VBI; while overall asset quality remains strong (net charge-offs 3 bps in 4Q and 12 bps for full year), the acquisition added some incremental stressed assets that will be monitored.
Q1 Seasonality and Near-Term Expense Pressure
Management noted seasonally higher first-quarter expenses (FICA and 401(k) resets) and the planned banker hiring in 2026 will push the efficiency ratio higher near-term; benefits of hires largely realize in 2027–2028.
Market-Specific Real Estate Weakness in Florida
Management flagged localized housing softness: condo markets facing retrofit-driven demand weakness and pockets on Florida's west coast (Fort Myers / Cape Coral) showing overbuilding and price pressure. Company exposure appears manageable but market-specific risk exists.
HTM Unrealized Losses Remain and No Plans to Pierce HTM
While AFS unrealized losses improved materially, larger unrealized losses remain in the HTM portfolio and management indicated no plans to sell HTM holdings, which limits further TBV recovery from restructures and could be a potential source of future mark-to-market pressure if policy changes.
Company Guidance
Seacoast guided to full-year 2026 adjusted EPS of $2.48–$2.52, with adjusted revenue growth of 29–31% versus 2025 and an adjusted efficiency ratio of 53–55%; management expects to exit 2026 (post-Villages conversion) with an adjusted ROA above 1.30% and a return on tangible equity of ~16%. They plan to increase banker headcount by ~15% in 2026 (with the productivity upside realized in 2027–28), expect high single‑digit loan growth and low‑ to mid‑single‑digit deposit growth, and anticipate continued NIM expansion (Q1 margin expansion of roughly 10–15 bps was discussed) aided by securities actions (securities yield in Q1 implied in the mid‑4% range, ~4.40–4.50%, and recent reinvestments near a 4.8% taxable‑equivalent yield). Capital and liquidity remain strong (Tier 1 ~14.4%, tangible equity/tangible assets ~9.3%), and guidance is presented on an adjusted basis that excludes merger‑related charges.Seacoast Banking Of Florida Financial Statement Overview
Summary
Mixed fundamentals: very strong reported profitability margins (net margin 52.9%, EBIT 72.2%, EBITDA 83.7%) and a stable balance sheet (debt-to-equity 0.43, equity ratio 14.26%), but a sharp revenue growth decline (-67.25% TTM) and negative free cash flow growth (-8.97% TTM) are material risks.Income Statement
Seacoast Banking Of Florida's income statement shows a significant decline in revenue growth rate at -67.25% TTM, indicating a challenging period. However, the company maintains a strong net profit margin of 52.90% TTM, suggesting effective cost management. The EBIT and EBITDA margins are also robust at 72.19% and 83.73% TTM, respectively, reflecting operational efficiency. Despite these strengths, the sharp revenue decline is a major concern.45
Neutral
Balance Sheet
The balance sheet reveals a moderate debt-to-equity ratio of 0.43 TTM, indicating a balanced approach to leveraging. The return on equity is relatively low at 1.50% TTM, suggesting limited profitability from equity investments. However, the equity ratio stands at 14.26% TTM, showing a stable capital structure. Overall, the balance sheet is stable but lacks strong profitability metrics.60
Neutral
Cash Flow
Cash flow analysis indicates a decrease in free cash flow growth at -8.97% TTM, which could impact future investments. The free cash flow to net income ratio is strong at 99.92% TTM, demonstrating efficient cash conversion. However, the operating cash flow to net income ratio is low, suggesting potential challenges in cash generation from operations.55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 869.54M | 808.99M | 768.13M | 446.58M | 354.97M |
| Gross Profit | 535.38M | 498.14M | 528.63M | 404.91M | 356.04M |
| EBITDA | 186.51M | 175.05M | 134.68M | 148.77M | 154.89M |
| Net Income | 144.88M | 120.99M | 104.03M | 106.51M | 124.40M |
Balance Sheet | |||||
| Total Assets | 20.84B | 15.18B | 14.58B | 12.15B | 9.68B |
| Cash, Cash Equivalents and Short-Term Investments | 5.35B | 2.67B | 2.29B | 2.08B | 2.38B |
| Total Debt | 1.34B | 584.04M | 530.88M | 406.56M | 193.21M |
| Total Liabilities | 17.79B | 12.99B | 12.47B | 10.54B | 8.37B |
| Stockholders Equity | 3.06B | 2.18B | 2.11B | 1.61B | 1.31B |
Cash Flow | |||||
| Free Cash Flow | 0.00 | 175.87M | 140.32M | 183.21M | 150.25M |
| Operating Cash Flow | 0.00 | 179.90M | 150.61M | 195.86M | 154.57M |
| Investing Cash Flow | 0.00 | -606.88M | 527.45M | -364.88M | -412.51M |
| Financing Cash Flow | 0.00 | 456.41M | -432.82M | -366.77M | 591.58M |
Seacoast Banking Of Florida Technical Analysis
Positive
33.75
Price Trends
33.10
Positive
31.86
Positive
29.78
Positive
Market Momentum
0.15
Positive
51.59
Neutral
29.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBCF, the sentiment is Positive. The current price of 33.75 is below the 20-day moving average (MA) of 33.87, above the 50-day MA of 33.10, and above the 200-day MA of 29.78, indicating a neutral trend. The MACD of 0.15 indicates Positive momentum. The RSI at 51.59 is Neutral, neither overbought nor oversold. The STOCH value of 29.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SBCF.
Seacoast Banking Of Florida Risk Analysis
Seacoast Banking Of Florida disclosed 37 risk factors in its most recent earnings report. Seacoast Banking Of Florida reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Seacoast Banking Of Florida Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $3.00B | 10.30 | 10.72% | 4.69% | 38.34% | 89.73% | |
73 Outperform | $2.81B | 13.61 | 21.27% | 4.00% | -8.43% | 3.75% | |
72 Outperform | $3.13B | 23.90 | 6.98% | 1.34% | 10.50% | -6.22% | |
71 Outperform | $3.15B | 17.08 | 11.70% | 3.99% | 3.40% | 23.04% | |
68 Neutral | $3.14B | 15.62 | 13.69% | 2.96% | 6.29% | 28.28% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | $3.29B | 21.28 | 6.33% | 2.25% | 6.83% | 23.44% |
* Financial Sector Average
SBCF
Seacoast Banking Of Florida
33.75
6.55
24.09%
BOH
Bank Of Hawaii
80.07
12.67
18.80%
CVBF
Cvb Financial
20.48
1.64
8.69%
PRK
Park National
175.15
18.61
11.89%
PFS
Provident Financial Services
23.08
6.19
36.62%
FBK
FB Financial
59.08
10.49
21.58%
Seacoast Banking Of Florida Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Seacoast Banking Announces Strong 2025 Results, Portfolio Repositioning
Positive
Jan 29, 2026
On January 29, 2026, Seacoast Banking Corporation of Florida reported unaudited results for the fourth quarter and full year 2025, highlighted by net income of $34.3 million that reflected significant merger and integration costs and day-one credit provisions tied to its October 1, 2025 acquisition of Villages Bancorporation, Inc. Adjusted pre-tax pre-provision earnings rose 39% quarter over quarter and 65% year over year, supported by 15% annualized organic loan growth, a 31% sequential and 28% annual increase in net interest income, an improving efficiency ratio, and industry-leading capital and liquidity metrics. The company continued executing its acquisition-driven strategy, completing the transformative VBI deal that added $4.4 billion in assets, including approximately $1.2 billion in loans, $3.5 billion in deposits and 19 branches in The Villages community, as well as the earlier 2025 acquisition of Heartland Bancshares, Inc., which brought additional loans, deposits and four branches in Central Florida, with Heartland’s integration finalized in the third quarter of 2025. On January 23, 2026, Seacoast repositioned part of its available-for-sale securities portfolio by selling lower-yielding securities at a pre-tax loss of about $39.5 million and reinvesting roughly $277 million of proceeds into primarily agency mortgage-backed securities at higher yields, a move designed to enhance long-term net interest income and margin despite the near-term hit to earnings. Operating results also benefited from expanding noninterest income streams, including higher service charges on deposits, strong wealth management growth, and increased mortgage banking income following the VBI acquisition, while credit loss provisioning rose mainly due to the required day-one allowance build on acquired VBI loans, leaving allowance coverage at 1.42%.
The most recent analyst rating on (SBCF) stock is a Hold with a $36.00 price target. To see the full list of analyst forecasts on Seacoast Banking Of Florida stock, see the SBCF Stock Forecast page.
Business Operations and StrategyStock Buyback
Seacoast Banking Expands Share Repurchase Authorization to 2026
Positive
Dec 19, 2025
On December 19, 2025, Seacoast Banking Corporation of Florida’s board renewed and expanded its share repurchase program, which had been scheduled to expire on December 31, 2025, authorizing the buyback of up to $150 million of common stock, or roughly 5% of its outstanding shares, through December 31, 2026. The authorization, which allows purchases via open market, block, privately negotiated transactions, or Rule 10b5-1 trading plans and may be suspended or modified at any time, gives the bank added flexibility in capital management and signals confidence in its financial position and post-acquisition scale, though it does not obligate Seacoast to repurchase a specific number of shares and remains subject to market, regulatory, liquidity, and performance considerations.
The most recent analyst rating on (SBCF) stock is a Hold with a $35.00 price target. To see the full list of analyst forecasts on Seacoast Banking Of Florida stock, see the SBCF Stock Forecast page.
Business Operations and StrategyFinancial Disclosures
Seacoast Banking Plans Investor Meetings in November 2025
Neutral
Nov 5, 2025
Seacoast Banking Corporation of Florida announced that it will hold one-on-one meetings with investors in November 2025 to discuss its business strategy, financial performance, and future opportunities. This initiative aims to enhance investor relations and provide insights into the company’s strategic plans and recent developments, potentially impacting its market positioning and stakeholder engagement.
The most recent analyst rating on (SBCF) stock is a Hold with a $33.50 price target. To see the full list of analyst forecasts on Seacoast Banking Of Florida stock, see the SBCF Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.