For the quarter ended June 2023, Seacoast Banking (SBCF - Free Report) reported revenue of $148.54 million, up 50.6% over the same period last year. EPS came in at $0.37, compared to $0.59 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $153.4 million, representing a surprise of -3.17%. The company delivered an EPS surprise of -9.76%, with the consensus EPS estimate being $0.41.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Seacoast Banking performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 67.34% versus 61.86% estimated by four analysts on average.
- Net Interest Margin: 3.86% compared to the 4% average estimate based on four analysts.
- Total Net Charge-offs (Recoveries) to Average Loans: 0.03% compared to the 0.15% average estimate based on three analysts.
- Total nonperforming loans: $48.33 million versus $33.40 million estimated by two analysts on average.
- Total nonperforming assets: $55.85 million versus the two-analyst average estimate of $43.29 million.
- Average Balance - Total Earning Assets: $13.21 billion versus the two-analyst average estimate of $13.18 billion.
- Net interest income: $126.96 million versus the four-analyst average estimate of $131.49 million.
- Total noninterest income: $21.58 million versus the four-analyst average estimate of $21.93 million.
- Net interest income - FTE: $127.15 million versus $131.78 million estimated by three analysts on average.
View all Key Company Metrics for Seacoast Banking here>>>Shares of Seacoast Banking have returned +25.8% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Free – 5 Dividend Stocks to Fund Your Retirement
Zacks Investment Research has released a Special Report to help you prepare for retirement with 5 diverse stocks that pay whopping dividends. They cut across property management, upscale outlets, financial institutions, and a couple of strong energy producers.
5 Dividend Stocks to Include in Your Retirement Strategy is packed with unconventional wisdom and insights you won’t get from your neighborhood financial planner.
Download Now – Today It’s FREE >>
For the quarter ended June 2023, Seacoast Banking (SBCF - Free Report) reported revenue of $148.54 million, up 50.6% over the same period last year. EPS came in at $0.37, compared to $0.59 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $153.4 million, representing a surprise of -3.17%. The company delivered an EPS surprise of -9.76%, with the consensus EPS estimate being $0.41.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Seacoast Banking performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 67.34% versus 61.86% estimated by four analysts on average.
- Net Interest Margin: 3.86% compared to the 4% average estimate based on four analysts.
- Total Net Charge-offs (Recoveries) to Average Loans: 0.03% compared to the 0.15% average estimate based on three analysts.
- Total nonperforming loans: $48.33 million versus $33.40 million estimated by two analysts on average.
- Total nonperforming assets: $55.85 million versus the two-analyst average estimate of $43.29 million.
- Average Balance - Total Earning Assets: $13.21 billion versus the two-analyst average estimate of $13.18 billion.
- Net interest income: $126.96 million versus the four-analyst average estimate of $131.49 million.
- Total noninterest income: $21.58 million versus the four-analyst average estimate of $21.93 million.
- Net interest income - FTE: $127.15 million versus $131.78 million estimated by three analysts on average.
View all Key Company Metrics for Seacoast Banking here>>>Shares of Seacoast Banking have returned +25.8% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Free – 5 Dividend Stocks to Fund Your Retirement
Zacks Investment Research has released a Special Report to help you prepare for retirement with 5 diverse stocks that pay whopping dividends. They cut across property management, upscale outlets, financial institutions, and a couple of strong energy producers.
5 Dividend Stocks to Include in Your Retirement Strategy is packed with unconventional wisdom and insights you won’t get from your neighborhood financial planner.
Download Now – Today It’s FREE >>
Get the latest research report on SBCF - FREE