Seacoast Banking Earnings: What To Look For From SBCF

SBCF Cover Image

Florida regional bank Seacoast Banking (NASDAQ: SBCF) will be reporting earnings this Thursday afternoon. Here’s what to expect.

Seacoast Banking beat analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $140.7 million, up 12% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ tangible book value per share estimates but a miss of analysts’ EPS estimates.

Is Seacoast Banking a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Seacoast Banking’s revenue to grow 13.9% year on year to $144.2 million, a reversal from the 14.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.42 per share.

Seacoast Banking Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Seacoast Banking has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Seacoast Banking’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. City Holding delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 3%, and Texas Capital Bank reported revenues up 15.2%, topping estimates by 2.7%. Texas Capital Bank traded up 4.8% following the results.

Read our full analysis of City Holding’s results here and Texas Capital Bank’s results here.

There has been positive sentiment among investors in the regional banks segment, with share prices up 8.2% on average over the last month. Seacoast Banking is up 12.9% during the same time and is heading into earnings with an average analyst price target of $29.83 (compared to the current share price of $29.10).

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