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Seacoast Banking Corporation of Florida (SBCF) - free report >>
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Seacoast Banking Corporation of Florida (SBCF) - free report >>
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Seacoast Banking (SBCF) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, Seacoast Banking (SBCF - Free Report) reported revenue of $125.58 million, down 18.3% over the same period last year. EPS came in at $0.31, compared to $0.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $127.95 million, representing a surprise of -1.86%. The company delivered an EPS surprise of -8.82%, with the consensus EPS estimate being $0.34.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 66.8% versus the four-analyst average estimate of 65.3%.
- Net Interest Margin: 3.2% versus the four-analyst average estimate of 3.3%.
- Average Balance - Total Earning Assets: $13.09 billion versus $13.08 billion estimated by three analysts on average.
- Total Net Charge-offs (Recoveries) to Average Loans: 0.2% versus the three-analyst average estimate of 0.2%.
- Total nonperforming assets: $84.52 million versus the two-analyst average estimate of $72.59 million.
- Total nonperforming loans: $77.21 million versus the two-analyst average estimate of $65.10 million.
- Total noninterest income: $20.50 million versus the four-analyst average estimate of $19.60 million.
- Net interest income - FTE: $105.30 million versus the four-analyst average estimate of $108.50 million.
- Net interest income: $105.08 million versus the three-analyst average estimate of $108.23 million.
View all Key Company Metrics for Seacoast Banking here>>>Shares of Seacoast Banking have returned -5.7% over the past month versus the Zacks S&P 500 composite's -3% 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.