Florida regional bank Seacoast Banking (NASDAQ: SBCF) will be reporting earnings this Tuesday afternoon. Here’s what you need to know.
Seacoast Banking beat analysts’ revenue expectations last quarter, reporting revenues of $204.8 million, up 44.7% year on year. It was a softer quarter for the company, with a significant miss of analysts’ tangible book value per share and EPS estimates.
Is Seacoast Banking a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Seacoast Banking’s revenue to grow 45.9% year on year, improving from the 12.2% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Seacoast Banking rarely misses Wall Street’s revenue estimates.
Looking at Seacoast Banking’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.2%, beating analysts’ expectations by 4.8%, and Republic Bancorp reported a revenue decline of 11.3%, falling short of estimates by 4.8%. OFG Bancorp traded up 7.6% following the results while Republic Bancorp was also up 1.4%.
Read our full analysis of OFG Bancorp’s results here and Republic Bancorp’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 8.1% on average over the last month. Seacoast Banking is up 6.1% during the same time and is heading into earnings with an average analyst price target of $35.42 (compared to the current share price of $31.25).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
