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Seacoast Banking Corporation Of Florida (SBCF)
NASDAQ:SBCF
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Seacoast Banking Of Florida
(NASDAQ:SBCF)
Rating:65Neutral
Price Target:―
Seacoast Banking Of Florida (SBCF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.21B
Dividend Yield2.82%
Average Volume (3M)446.59K
Price to Earnings (P/E)17.3
Beta (1Y)1.10
Revenue Growth4.52%
EPS Growth7.58%
CountryUS
Employees1,518
SectorFinancial
Sector Strength82
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.38
Shares Outstanding85,985,450
10 Day Avg. Volume330,439
30 Day Avg. Volume446,593
Financial Highlights & Ratios
PEG Ratio3.95
Price to Book (P/B)0.94
Price to Sales (P/S)0.00
P/FCF Ratio12.19
Enterprise Value/Market Cap1.31
Enterprise Value/Revenue1.05
Enterprise Value/Gross Profit4.43
Enterprise Value/Ebitda5.10
Forecast
1Y Price Target
$28.25Price Target Upside14.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
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 Corporation of Florida makes money primarily through the interest income generated from its loan products, which include commercial loans, residential mortgages, and consumer loans. The bank also earns revenue from non-interest income sources such as service charges on deposit accounts, fees from wealth management services, and other financial services including treasury management. Additionally, SBCF benefits from strategic partnerships and acquisitions that expand its customer base and enhance its service offerings. The bank's earnings are significantly influenced by interest rate fluctuations, economic conditions, and regulatory requirements affecting the financial sector.
Seacoast Banking Of Florida Financial Statement Overview
Summary
Seacoast Banking Of Florida presents a stable financial outlook with robust balance sheet fundamentals and strong cash flow management. While income statement growth has been inconsistent, the bank's low leverage and solid equity base provide a cushion against potential revenue volatility. Continued focus on revenue growth and managing cash flows will be key for sustaining financial performance.Income Statement
The income statement reflects moderate performance with fluctuating revenue growth, which saw a decline in 2023 after previous years of growth. The net profit margin and EBIT margin are stable, indicating consistent profitability despite revenue volatility. However, the lack of data for 2024 limits the current analysis.65
Positive
Balance Sheet
The balance sheet demonstrates solid financial stability, with a consistent increase in stockholders' equity and a low debt-to-equity ratio, suggesting low leverage. The equity ratio has improved over the years, indicating strengthened financial stability and asset management.78
Positive
Cash Flow
Cash flow analysis indicates strong free cash flow generation with a positive trend in operating cash flow relative to net income. The free cash flow to net income ratio is healthy, reflecting efficient cash management, though there are fluctuations in investing and financing cash flows that warrant attention.70
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 515.40M | 527.76M | 432.25M | 346.75M | 324.31M | Gross Profit |
| 515.40M | 767.14M | 432.25M | 346.75M | 324.31M | EBIT |
| 172.67M | 238.37M | 152.47M | 158.74M | 100.58M | EBITDA |
| 0.00 | 179.28M | 159.84M | 173.83M | 91.92M | Net Income Common Stockholders |
| 120.99M | 104.03M | 106.51M | 124.40M | 77.76M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 2.40B | 2.29B | 2.08B | 2.38B | 1.80B | Total Assets |
| 15.18B | 14.58B | 12.15B | 9.68B | 8.34B | Total Debt |
| 351.97M | 530.88M | 406.56M | 193.21M | 190.97M | Net Debt |
| -127.86M | 77.84M | 201.39M | -544.52M | -213.86M | Total Liabilities |
| 12.99B | 12.47B | 10.54B | 8.37B | 7.21B | Stockholders Equity |
| 2.18B | 2.11B | 1.61B | 1.31B | 1.13B |
| Cash Flow | Free Cash Flow | |||
| 175.87M | 140.32M | 183.21M | 150.25M | 59.06M | Operating Cash Flow |
| 175.77M | 150.61M | 195.86M | 154.57M | 60.65M | Investing Cash Flow |
| -602.76M | 527.45M | -364.88M | -412.51M | -342.50M | Financing Cash Flow |
| 456.41M | -432.82M | -366.77M | 591.58M | 561.41M |
Seacoast Banking Of Florida Technical Analysis
Negative
24.70
Price Trends
24.58
Positive
26.02
Negative
26.56
Negative
Market Momentum
0.36
Negative
48.81
Neutral
59.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBCF, the sentiment is Negative. The current price of 24.7 is below the 20-day moving average (MA) of 24.75, above the 50-day MA of 24.58, and below the 200-day MA of 26.56, indicating a neutral trend. The MACD of 0.36 indicates Negative momentum. The RSI at 48.81 is Neutral, neither overbought nor oversold. The STOCH value of 59.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 3 New Risks
1.
Our business strategy includes continued growth, and our financial condition and results of operations could be negatively affected if we fail to grow or fail to manage our growth effectively. Q4, 2024
2.
If we fail to successfully integrate our acquisitions or to realize the anticipated benefits of them, our financial condition and results of operations could be negatively affected. Q4, 2024
3.
The development and use of artificial intelligence ("AI") presents risks and challenges that may adversely impact our business. Q4, 2024
Seacoast Banking Of Florida Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $2.27B | 15.64 | 6.77% | 5.54% | 80.23% | -30.60% | |
68 Neutral | $2.24B | 12.73 | 10.09% | 2.98% | 10.06% | 6.18% | |
65 Neutral | $2.21B | 17.32 | 5.82% | 2.82% | 4.52% | 7.58% | |
65 Neutral | $2.25B | 18.48 | 13.18% | 1.61% | 14.34% | 16.24% | |
65 Neutral | $2.10B | 16.79 | 8.27% | 1.54% | 3.30% | 14.32% | |
64 Neutral | $12.78B | 9.87 | 7.67% | 17015.06% | 12.34% | -5.99% | |
63 Neutral | $2.18B | 333.67 | 3.28% | 2.58% | -17.36% | -95.37% |
* Financial Sector Average
Performance Comparison
SBCF
Seacoast Banking Of Florida
24.70
1.52
6.56%
BANR
Banner
62.66
18.14
40.75%
PFS
Provident Financial Services
16.78
1.95
13.15%
SYBT
Stock Yards Bancorp
76.22
29.50
63.14%
TRMK
Trustmark
34.93
5.51
18.73%
FBK
FB Financial
43.78
6.21
16.53%
Seacoast Banking Of Florida Earnings Call Summary
Earnings Call Date:Apr 24, 2025
(Q1-2025)
| % Change Since: 3.48%|
Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment Positive
Seacoast Banking Corporation reported a strong quarter with significant growth in loans and deposits, a healthy net interest margin, and robust capital ratios. However, the call acknowledged economic uncertainty and potential risks from tariffs, which could impact future growth. Despite these challenges, the bank's strong performance and strategic investments position it well for continued growth.Q1-2025 Updates
Positive Updates
Strong Loan and Deposit Growth
Seacoast delivered a strong quarter for both loans and deposits, with a 6% annualized loan growth and deposit growth at nearly 11% annualized. Non-interest-bearing demand deposits grew 17% annualized.
Net Interest Margin and Cost of Deposits
Net interest margin increased by 9 basis points to 3.48%, while the cost of deposits declined by 15 basis points to 1.93%.
Robust Capital Position
Seacoast's Tier 1 capital ratio is 14.7%, and the ratio of tangible common equity to tangible assets is 9.6%. Tangible book value per share grew 10% year-over-year.
Wealth Management and Insurance Income Growth
Wealth management revenue increased by 20%, and insurance agency income grew by 25% year-over-year.
Asset Quality and Credit Metrics
Asset quality remained strong, with the NPL ratio dropping 68 basis points and non-performing loans decreasing by approximately $21 million from the prior quarter.
Negative Updates
Market Uncertainty and Economic Volatility
Emerging risks in the macroeconomic environment and increased volatility were highlighted, with particular concern over the impact of tariffs and supply chain disruptions.
Lower Other Income
Other income was lower by $4.1 million compared to the prior quarter, primarily due to lower gains on SBIC investments and fewer loan sales.
Potential Tariff Impacts
The potential impact of tariffs on customers was a concern, with uncertainty about how customers would react and whether it might affect future loan growth.
Company Guidance
In the first quarter of 2025, Seacoast Banking Corporation exhibited strong performance metrics, signaling a promising start to the fiscal year. The company reported a 9 basis point increase in net interest margin, alongside a 15 basis point decline in the cost of deposits. Loans grew by 6% on an annualized basis, and deposits saw an 11% annualized growth rate, with a 17% increase in non-interest-bearing demand deposits. The adjusted pre-tax pre-provision earnings rose by 22% compared to the same quarter in the previous year, while tangible book value per share increased by 10%. Seacoast's asset quality remained robust, with a 68 basis point drop in the non-performing loan ratio, and they maintained a conservative approach by holding the allowance coverage ratio flat amidst market uncertainty. The company's continued investment in talent was reflected in the onboarding of 10 revenue-producing bankers, contributing to the strong growth trajectory. Additionally, Seacoast's capital position remained solid with a Tier 1 capital ratio of 14.7% and a tangible common equity to tangible assets ratio of 9.6%.Seacoast Banking Of Florida Corporate Events
M&A TransactionsBusiness Operations and StrategyFinancial Disclosures
Seacoast Banking Reports Q1 2025 Financial Results
Positive
Apr 24, 2025
Seacoast Banking Corporation of Florida reported its financial results for the first quarter of 2025, showing a net income of $31.5 million, a decrease from the previous quarter but an increase from the same quarter last year. The company experienced growth in deposits and loans, with a net interest margin expansion and a strong balance sheet. Seacoast is also expanding its market presence with new branches and a proposed acquisition of Heartland Bancshares, Inc., which is expected to close in the third quarter of 2025, enhancing its presence in Central Florida.
Spark’s Take on SBCF Stock
According to Spark, TipRanks’ AI Analyst, SBCF is a Neutral.
Seacoast Banking Of Florida shows stability with strong financial fundamentals and positive earnings guidance. Despite technical weaknesses indicating bearish momentum, the bank’s low leverage, robust capital position, and strategic growth initiatives provide a solid foundation. Valuation is moderate, with room for improvement, while recent corporate events and earnings call insights bolster confidence in the company’s near-term prospects.
To see Spark’s full report on SBCF stock, click here.
Business Operations and StrategyFinancial Disclosures
Seacoast Banking Plans Investor Meetings in February 2025
Neutral
Feb 12, 2025
Seacoast Banking Corporation of Florida has announced that it will hold individual meetings with investors throughout February 2025. During these meetings, executives will discuss the company’s business strategy, financial performance, recent developments, and future opportunities. This initiative is likely intended to strengthen investor relations and provide transparency about the company’s operations and strategic direction.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.