Company Overview - Seacoast Banking (SBCF) shares increased by 6.2% to $23.62 in the last trading session, following a broader market rally and a significant volume of shares traded [1] - The stock had previously experienced a 12.1% decline over the past four weeks [1] Earnings Expectations - Seacoast Banking is projected to report quarterly earnings of $0.40 per share, reflecting a year-over-year increase of 29% [2] - Expected revenues for the upcoming quarter are $136.9 million, which is a 9% increase compared to the same quarter last year [2] Stock Performance Insights - The consensus EPS estimate for Seacoast Banking has remained stable over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [3] - The stock currently holds a Zacks Rank of 1 (Strong Buy), suggesting strong market confidence [3] Industry Context - Seacoast Banking operates within the Zacks Banks - Southeast industry, where HomeTrust Bancshares (HTB) also operates [3] - HomeTrust Bancshares has a consensus EPS estimate of $0.76, which is a 2.7% increase over the past month but represents a 13.6% decrease compared to the previous year [4]

Core Viewpoint - Seacoast Banking (SBCF) has experienced a bearish trend recently, losing 6.6% over the past four weeks, but the formation of a hammer chart pattern suggests a potential trend reversal as buying interest may be increasing [1][2]. Technical Analysis - The hammer chart pattern indicates a potential bottom in a downtrend, where the stock opens lower, makes a new low, but then finds support and closes near its opening price, signaling that bears may be losing control [3][4]. - Hammer candles can appear on various timeframes and are utilized by both short-term and long-term investors [4]. Fundamental Analysis - Recent upward revisions in earnings estimates for SBCF serve as a bullish indicator, as trends in earnings estimate revisions are strongly correlated with near-term stock price movements [6]. - The consensus EPS estimate for SBCF has increased by 0.9% over the last 30 days, indicating that analysts expect better earnings than previously predicted [7]. - SBCF holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks, which typically outperform the market [8].

Core Viewpoint - Seacoast Banking (SBCF) is experiencing significant selling pressure, with a 7.9% decline over the past four weeks, but is positioned for a potential trend reversal as it enters oversold territory, supported by analysts predicting better earnings than previously estimated [1]. Group 1: Technical Indicators - The Relative Strength Index (RSI) is utilized to determine if a stock is oversold, with a reading below 30 indicating oversold conditions [2]. - SBCF's current RSI reading is 29.31, suggesting that the heavy selling may be exhausting, indicating a possible bounce back towards equilibrium in supply and demand [5]. Group 2: Fundamental Analysis - There is strong consensus among sell-side analysts to raise earnings estimates for SBCF, with a 0.9% increase in the consensus EPS estimate over the last 30 days, which typically correlates with price appreciation [6]. - SBCF holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further indicating a potential turnaround [7].

Interest Rate Risk - Seacoast Banking Corporation of Florida's projected baseline net interest income is expected to decrease by 16.6% over the next 12 months if interest rates increase by 3.00%[340]. - The company's interest sensitivity gap is reported at $4,111,526, indicating a significant exposure to interest rate fluctuations[345]. - A 3.00% increase in interest rates could lead to a 26.1% decrease in the economic value of equity by December 31, 2024[351]. - The company is exposed to market risks from changes in interest rates, which could affect net interest income and overall financial performance[347]. - Interest rate risk management strategies are regularly reviewed by senior management and the Asset-Liability Committee (ALCO) to optimize financial position and limit volatility[339]. Financial Performance - Net interest income for Q4 2024 was $115,804,000, an increase from $110,819,000 in Q4 2023, reflecting a year-over-year growth of approximately 4.4%[358]. - Total noninterest income for Q4 2024 was $17,068,000, compared to $17,338,000 in Q4 2023, indicating a slight decrease of about 1.6%[358]. - Net income for Q4 2024 reached $34,085,000, up from $29,543,000 in Q4 2023, representing an increase of approximately 15.8%[358]. - The provision for credit losses in Q4 2024 was $3,699,000, compared to $3,990,000 in Q4 2023, showing a decrease of about 7.3%[358]. - Interest income for Q4 2024 was $185,930,000, compared to $176,855,000 in Q4 2023, marking an increase of about 5.9%[358]. - Interest expense for Q4 2024 was $70,126,000, up from $66,036,000 in Q4 2023, indicating an increase of approximately 6.4%[358]. - The company's net income per diluted share for Q4 2024 was $0.40, compared to $0.35 in Q4 2023, representing an increase of approximately 14.3%[358]. Dividends and Stock Performance - The company declared cash dividends of $0.18 per common share for each quarter in 2024, consistent with the dividend declared in 2023[359]. - The market price of common stock reached a high close of $30.71 in Q4 2024, compared to a high close of $27.01 in Q4 2023, reflecting an increase of approximately 13.3%[359]. - The cumulative total stockholder return on Seacoast common stock was 98.54 as of December 31, 2024, compared to 99.02 in 2023, indicating a slight decline of about 0.5%[356]. Regulatory and Market Concerns - The company anticipates a potential increase in regulatory capital requirements, which may impact future growth plans[22]. - Seacoast's ability to manage liquidity risk is critical, especially in light of recent high-profile bank failures affecting customer confidence[21]. - The impact of inflationary pressures and changes in interest rates on customer behavior and credit risk is a significant concern for the company[21]. - The company holds $10,317,227 in loans, with a significant portion concentrated in commercial real estate[345]. - Total earning assets amount to $13,585,618, with non-maturity deposits constituting $7,274,182[345].

Core Viewpoint - Seacoast Banking (SBCF) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Ratings - The Zacks rating system is solely based on a company's changing earnings picture, tracking the Zacks Consensus Estimate for EPS from sell-side analysts [2]. - The Zacks rating upgrade for Seacoast Banking reflects an optimistic earnings outlook, likely to positively affect its stock price [3][5]. Impact of Earnings Estimates on Stock Prices - Changes in future earnings potential, as shown by earnings estimate revisions, are strongly correlated with near-term stock price movements, influenced by institutional investors [4]. - Rising earnings estimates and the resulting rating upgrade suggest an improvement in Seacoast Banking's underlying business, which should lead to higher stock prices [5]. Importance of Tracking Earnings Revisions - Empirical research indicates a strong correlation between earnings estimate revisions and near-term stock movements, making it beneficial to track these revisions for investment decisions [6]. - The Zacks Rank system effectively utilizes earnings estimate revisions to classify stocks, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. Specific Earnings Estimates for Seacoast Banking - Seacoast Banking is projected to earn $1.63 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 4.5% [8]. - Over the past three months, the Zacks Consensus Estimate for Seacoast Banking has risen by 2.5% [8]. Zacks Rating System Overview - The Zacks rating system maintains a balanced distribution of 'buy' and 'sell' ratings across over 4000 stocks, with only the top 5% receiving a 'Strong Buy' rating [9]. - The upgrade of Seacoast Banking to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

EARNINGS PRESENTATION Cautionary Notice Regarding Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning, and protections, of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in the Company's markets, and improvements to reported earning ...

Core Insights - Seacoast Banking (SBCF) reported revenue of $132.87 million for Q4 2024, a year-over-year increase of 3.7% [1] - The company's EPS for the same period was $0.48, up from $0.35 a year ago, representing a surprise of +60.00% compared to the consensus estimate of $0.30 [1] - The reported revenue exceeded the Zacks Consensus Estimate of $128.8 million by +3.16% [1] Financial Metrics - Net Interest Margin was reported at 3.4%, surpassing the average estimate of 3.2% from three analysts [4] - Efficiency Ratio stood at 56.3%, significantly better than the average estimate of 65.3% from three analysts [4] - Total Net Charge-offs to Average Loans was 0.2%, matching the average estimate from two analysts [4] - Total nonperforming loans amounted to $92.45 million, higher than the average estimate of $76.96 million from two analysts [4] - Total nonperforming assets were reported at $98.87 million, exceeding the average estimate of $83.34 million from two analysts [4] - Average Balance of Total Earning Assets was $13.64 billion, slightly below the average estimate of $13.65 billion from two analysts [4] - Total noninterest income was $17.07 million, lower than the average estimate of $19.79 million from three analysts [4] - Net interest income - FTE was reported at $116.12 million, above the average estimate of $110.39 million from three analysts [4] - Net interest income reached $115.80 million, exceeding the average estimate of $110.13 million from two analysts [4] Stock Performance - Shares of Seacoast Banking have returned -1.9% over the past month, contrasting with the Zacks S&P 500 composite's +1.1% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Insights - Seacoast Banking (SBCF) reported quarterly earnings of $0.48 per share, exceeding the Zacks Consensus Estimate of $0.30 per share, and showing an increase from $0.35 per share a year ago, resulting in an earnings surprise of 60% [1] - The company achieved revenues of $132.87 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.16% and up from $128.16 million year-over-year [2] - The stock has underperformed the market, losing about 2.9% since the beginning of the year compared to the S&P 500's gain of 3.7% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.36 on revenues of $133.5 million, and for the current fiscal year, it is $1.59 on revenues of $556 million [7] - The estimate revisions trend for Seacoast Banking is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Banks - Southeast industry, to which Seacoast Banking belongs, is currently in the top 24% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Performance - Net income for Q4 2024 was $34.1 million, or $0.40 per diluted share, up from $30.7 million, or $0.36 per diluted share in Q3 2024, and $29.5 million, or $0.35 per diluted share in Q4 2023[1]. - Adjusted net income for Q4 2024 was $40.6 million, or $0.48 per diluted share, compared to $30.5 million, or $0.36 per diluted share in Q3 2024, and $31.4 million, or $0.37 per diluted share in Q4 2023[2]. - Pre-tax pre-provision earnings were $47.9 million in Q4 2024, an increase of $1.8 million, or 4%, from Q3 2024, and an increase of $5.9 million, or 14%, from Q4 2023[4]. - Net revenues for Q4 2024 were $132.9 million, an increase of $2.5 million, or 2%, from Q3 2024, and an increase of $4.7 million, or 4%, from Q4 2023[4]. - The net income for Q4 2024 was $34.1 million, an increase from $30.7 million in Q3 2024[13]. - Seacoast Banking Corporation of Florida reported a net income of $34.085 million for Q4 2024, an increase from $29.543 million in Q4 2023, representing a growth of 15.8% year-over-year[21]. - Adjusted net income for Q4 2024 was $40.556 million, compared to $31.363 million in Q4 2023, reflecting a year-over-year increase of 29.3%[21]. - Net income for the fourth quarter of 2024 was $34,085 thousand, an increase of 11.8% compared to $30,651 thousand in the third quarter of 2024[29]. Income and Expenses - Noninterest income totaled $17.1 million in Q4 2024, a decrease of $6.6 million, or 28%, from Q3 2024, and a decrease of $0.3 million, or 2%, from Q4 2023[5]. - Noninterest expense was $85.6 million in Q4 2024, an increase of $0.8 million, or 1%, from Q3 2024, and a decrease of $0.8 million, or 1%, from Q4 2023[5]. - Total Noninterest Expense for Q4'24 was $85.58 million, an increase of 1% from Q3'24 and a decrease of 1% from Q4'23[22]. - The company reported total noninterest expense of $85,575 thousand for the fourth quarter, a slight increase from $84,818 thousand in the third quarter[29]. Asset and Loan Growth - Assets under management increased by $341.7 million, or 20%, reaching $2.1 billion at December 31, 2024[5]. - As of December 31, 2024, total assets were $15.2 billion, and total shareholders' equity was $2.2 billion, with a book value per share of $25.51[8]. - Loans increased by $94.7 million, or 3.7% annualized, totaling $10.3 billion as of December 31, 2024, with loan originations rising 37% to $902.6 million in Q4 2024[8]. - Total assets increased to $15,176,308 thousand as of December 31, 2024, compared to $14,580,249 thousand a year earlier, reflecting a growth of 4.1%[23]. - Total loans reached $10,299,950 thousand, up from $10,062,940 thousand in the same quarter last year, representing a year-over-year increase of 2.4%[24]. - Total deposits were $12.2 billion as of December 31, 2024, remaining nearly flat compared to the previous quarter[13]. - Total deposits remained stable at $12,242,427 thousand, compared to $11,776,935 thousand a year earlier, reflecting a growth of 3.9%[23]. Credit Quality - The provision for credit losses was $3.7 million in Q4 2024, down from $6.3 million in Q3 2024 and $4.0 million in Q4 2023[5]. - Nonperforming loans increased to $92.4 million at December 31, 2024, compared to $80.9 million at September 30, 2024, with a nonperforming loans to total loans ratio of 0.90%[10]. - Nonperforming loans increased to $92,446 thousand, up from $65,104 thousand in the previous year, indicating a rise of 42%[24]. - The allowance for credit losses stood at $138,055 thousand, slightly down from $148,931 thousand a year ago, showing a decrease of 7.3%[24]. - The total allowance for credit losses to total loans ratio was 1.34% at the end of Q4 2024, down from 1.48% a year earlier[24]. Efficiency and Ratios - The efficiency ratio improved to 56.26% in Q4 2024, compared to 59.84% in Q3 2024 and 60.32% in Q4 2023[6]. - The adjusted efficiency ratio improved to 56.07% in the fourth quarter, down from 59.84% in the third quarter[29]. - Return on average assets (GAAP basis) increased to 0.89% in Q4 2024, compared to 0.80% in Q4 2023[21]. - Adjusted Return on Average Tangible Common Equity (ROTCE) increased to 12.74% in Q4'24 compared to 10.27% in Q3'24[31]. Capital and Shareholder Information - The Tier 1 capital ratio was 14.8% as of December 31, 2024, consistent with the previous quarter and up from 14.0% a year earlier[12]. - Average shareholders' equity reached $2,203,052,000 in Q4'24, compared to $2,168,444,000 in Q3'24[31]. - Cash dividends declared remained consistent at $0.18 per share for Q4 2024, unchanged from Q4 2023[21]. - Cash dividends declared for Q4'24 remained steady at $0.18 per share, consistent with previous quarters[22]. Future Outlook - The company plans to host a conference call on January 28, 2025, to discuss Q4 2024 earnings results and business trends[14].

Core Insights - Seacoast Banking (SBCF) is expected to report quarterly earnings of $0.30 per share, reflecting a year-over-year decline of 14.3% [1] - Anticipated revenues are projected at $128.8 million, showing a slight increase of 0.5% compared to the same quarter last year [1] Earnings Estimates - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analysts' projections [2] - Changes in earnings projections are crucial for predicting investor reactions, with empirical studies linking earnings estimate trends to short-term stock price movements [3] Key Financial Metrics - Analysts estimate the 'Net Interest Margin' to be 3.2%, down from 3.4% in the previous year [4] - The 'Efficiency Ratio' is forecasted to be 65.3%, an increase from 60.3% reported in the same quarter last year [5] - 'Total nonperforming loans' are expected to reach $76.96 million, up from $65.10 million a year ago [5] - 'Total nonperforming assets' are estimated at $83.34 million, compared to $72.66 million in the previous year [5] Additional Metrics - The 'Average Balance - Total Earning Assets' is projected at $13.65 billion, an increase from $13.10 billion in the same quarter last year [6] - 'Total noninterest income' is expected to be $19.79 million, up from $17.34 million a year ago [6] - 'Net interest income - FTE' is likely to reach $110.39 million, slightly down from $111.04 million in the same quarter last year [7] - 'Net interest income' is projected at $110.13 million, compared to $110.82 million reported in the same quarter last year [7] Market Performance - Over the past month, Seacoast Banking shares have declined by 1.8%, while the Zacks S&P 500 composite has increased by 2.1% [7] - With a Zacks Rank of 2 (Buy), SBCF is expected to outperform the overall market in the upcoming period [7]