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].

Financial Performance - Net income reached $341 million, or $040 per diluted share[11] - Adjusted net income was $406 million, or $048 per diluted share[11] - Net interest income totaled $1161 million, a 9% increase from the prior quarter[14] - Noninterest income, excluding securities activity, increased by $20 million, or 8%[11] Profitability Ratios - Return on average tangible assets increased 7% to 106%[11] - Adjusted return on average tangible assets increased 26% to 124%[11] - Return on tangible common equity increased 6% to 1090%[11] - Adjusted return on tangible common equity increased 24% to 1274%[11] Balance Sheet Strength - Tangible book value per share increased 7% year-over-year to $1612[11] - The Tier 1 capital ratio is strong at 148%[10, 11] - Loan-to-deposit ratio is 84%[10] Loan Portfolio - Total loans reached $103 billion[32] - Record originations of $903 million in the fourth quarter[29] - The average loan size is $383 thousand, and the average commercial loan size is $814 thousand[36] Deposit Base - Total deposits remained relatively flat at $122 billion[49] - Customer transaction account balances represent 50% of total deposits[53] - Consumer deposits represent 41% of total deposits, with an average balance per account of $25 thousand[53] Wealth Management - Assets under management increased 20% year-over-year, reaching $21 billion[16, 18] - Nearly $450 million in new assets under management were added during 2024[18] Noninterest Expense - Noninterest expense totaled $856 million, a 1% increase from the prior quarter[24] - Employee compensation and benefits totaled $489 million, a 3% increase[24]

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]

Core Viewpoint - Seacoast Banking Corporation of Florida has renewed its share repurchase program, allowing for the repurchase of up to $100 million of its common stock, which represents approximately 4% of its outstanding shares, with the program set to expire on December 31, 2025 [1][2]. Group 1: Share Repurchase Program Details - The renewed repurchase program allows shares to be repurchased in various ways, including open market purchases and privately negotiated transactions, in compliance with applicable legal and regulatory requirements [2][3]. - The timing and number of shares repurchased will be at the Company's discretion, influenced by factors such as market conditions, financial performance, and regulatory requirements [3][4]. - The Board has the authority to suspend, terminate, or modify the repurchase program at any time without notice, based on market conditions and other strategic considerations [4]. Group 2: Company Overview - Seacoast Banking Corporation of Florida is one of the largest community banks in Florida, with approximately $15.2 billion in assets and $12.2 billion in deposits as of September 30, 2024 [5]. - The Company offers a range of financial services, including commercial and consumer banking, wealth management, and mortgage services, through 77 full-service branches and advanced online banking solutions [5].