Seacoast Banking Corporation of Florida reports results for the quarter ended in March - Earnings Summary

Seacoast Banking of Florida

26/04/2024 24:59

* Seacoast Banking Corporation of Florida  SBCF.OQ  reported
quarterly adjusted earnings of 37 cents​​ per share for the
quarter ended in March, higher than the same quarter last year,
when the company reported EPS of 36 cents.  The mean expectation
of seven analysts for the quarter was for earnings of 35 cents
per share. Wall Street expected results to range from 31 cents
to 37 cents per share.
    * Revenue fell 18.2% to $125.58 million from a year ago;
analysts
expected $127.74 million. 
    * Seacoast Banking Corporation of Florida's reported EPS for
the
quarter was 31 cents​.
    * The company reported quarterly net income of $26.01
million.
    * Seacoast Banking Corporation of Florida shares had fallen
by 5.8% this quarter and lost 16.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.8%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Seacoast Banking
Corporation of Florida is $27.00 
This summary was machine generated from LSEG data April 25 at
11:59 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.35           0.37           Beat
 Dec. 31 2023      0.40           0.43           Beat
 Sep. 30 2023      0.40           0.46           Beat
 Jun. 30 2023      0.52           0.58           Beat