Seacoast Banking (SBCF - Free Report) reported $128.16 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 6.7%. EPS of $0.35 for the same period compares to $0.34 a year ago.
The reported revenue represents a surprise of -5.30% over the Zacks Consensus Estimate of $135.33 million. With the consensus EPS estimate being $0.40, the EPS surprise was -12.50%.
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: 60.3% versus 64.3% estimated by four analysts on average.
- Net Interest Margin: 3.4% versus the four-analyst average estimate of 3.5%.
- Total Net Charge-offs (Recoveries) to Average Loans: 0.2% versus the three-analyst average estimate of 0.1%.
- Total nonperforming loans: $65.10 million versus the two-analyst average estimate of $42.01 million.
- Total nonperforming assets: $72.66 million versus $49.27 million estimated by two analysts on average.
- Average Balance - Total Earning Assets: $13.10 billion compared to the $13.19 billion average estimate based on two analysts.
- Total noninterest income: $17.34 million versus the four-analyst average estimate of $19.25 million.
- Net interest income - FTE: $111.04 million compared to the $116.15 million average estimate based on four analysts.
- Net interest income: $110.82 million compared to the $115.40 million average estimate based on three analysts.
View all Key Company Metrics for Seacoast Banking here>>>Shares of Seacoast Banking have returned -7% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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Seacoast Banking (SBCF - Free Report) reported $128.16 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 6.7%. EPS of $0.35 for the same period compares to $0.34 a year ago.
The reported revenue represents a surprise of -5.30% over the Zacks Consensus Estimate of $135.33 million. With the consensus EPS estimate being $0.40, the EPS surprise was -12.50%.
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: 60.3% versus 64.3% estimated by four analysts on average.
- Net Interest Margin: 3.4% versus the four-analyst average estimate of 3.5%.
- Total Net Charge-offs (Recoveries) to Average Loans: 0.2% versus the three-analyst average estimate of 0.1%.
- Total nonperforming loans: $65.10 million versus the two-analyst average estimate of $42.01 million.
- Total nonperforming assets: $72.66 million versus $49.27 million estimated by two analysts on average.
- Average Balance - Total Earning Assets: $13.10 billion compared to the $13.19 billion average estimate based on two analysts.
- Total noninterest income: $17.34 million versus the four-analyst average estimate of $19.25 million.
- Net interest income - FTE: $111.04 million compared to the $116.15 million average estimate based on four analysts.
- Net interest income: $110.82 million compared to the $115.40 million average estimate based on three analysts.
View all Key Company Metrics for Seacoast Banking here>>>Shares of Seacoast Banking have returned -7% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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