分组1 - Seacoast Banking (SBCF) reported quarterly earnings of $0.38 per share, missing the Zacks Consensus Estimate of $0.40 per share, but showing an increase from $0.31 per share a year ago, resulting in an earnings surprise of -5% [1] - The company posted revenues of $140.7 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.77%, compared to year-ago revenues of $125.58 million [2] - Seacoast Banking shares have declined approximately 14% since the beginning of the year, while the S&P 500 has decreased by 8.6% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $0.42 on revenues of $140.8 million, and for the current fiscal year, it is $1.75 on revenues of $573.25 million [7] - The Zacks Industry Rank for Banks - Southeast is currently in the top 25% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - Net income for Q1 2025 was $31.5 million, or $0.37 per diluted share, compared to $34.1 million, or $0.40 per diluted share in Q4 2024, and $26.0 million, or $0.31 per diluted share in Q1 2024[2][7] - Adjusted net income for Q1 2025 was $32.1 million, or $0.38 per diluted share, compared to $40.6 million, or $0.48 per diluted share in Q4 2024, and $31.1 million, or $0.37 per diluted share in Q1 2024[3][7] - The Company reported net income of $31.5 million for Q1 2025, with diluted earnings per share (EPS) of $0.37[14] - Seacoast reported a net income of $31,464,000 for Q1 2025, a decrease from $34,085,000 in Q4 2024[25] - Net income for Q1 2025 was $31,464,000, down from $34,085,000 in Q4 2024, a decrease of 4.8%[27] - Adjusted Net Income for Q1'25 was $32,102,000, down from $40,556,000 in Q4'24, a decline of 20.9%[34] - Earnings per diluted share for Q1'25 was $0.37, compared to $0.40 in Q4'24, reflecting a decrease of 7.5%[34] Revenue and Income Sources - Net revenues were $140.7 million in Q1 2025, an increase of $7.8 million, or 6%, compared to the prior quarter, and an increase of $15.1 million, or 12%, compared to the prior year quarter[7] - Noninterest income totaled $22.2 million in Q1 2025, an increase of $5.1 million, or 30%, compared to the prior quarter[9] - Total interest income for Q1 2025 was $184,255,000, a slight decrease from $185,930,000 in Q4 2024[27] - Net interest income increased to $118,857,000 in Q1 2025 from $116,115,000 in Q4 2024, reflecting a net interest margin of 3.48%[25] - Noninterest income increased to $22,180,000 in Q1 2025, up from $17,068,000 in Q4 2024, representing a growth of 29.1%[27] Asset and Equity Management - Total assets as of March 31, 2025, were $15.7 billion, with total shareholders' equity of $2.2 billion[8] - Total assets reached $15,732,485,000 as of March 31, 2025, an increase from $15,176,308,000 at the end of 2024, marking a growth of 3.7%[28] - Total shareholders' equity increased to $2,229,740,000 as of March 31, 2025, compared to $2,183,243,000 at the end of 2024, a growth of 2.1%[28] Loan and Deposit Growth - Total loans increased by $143.1 million, or 5.6% annualized, totaling $10.4 billion as of March 31, 2025[10] - Total deposits rose by $332.4 million, or 11.0% annualized, reaching $12.6 billion as of March 31, 2025[10] - Total loans reached $10,443,021 thousand in Q1'25, up from $10,299,950 thousand in Q4'24, marking a growth of 1.4%[29] - Total deposits rose to $12,574,796,000 in Q1 2025, compared to $12,242,427,000 in Q4 2024, indicating an increase of 2.7%[28] Credit Quality and Loss Provisions - The provision for credit losses was $9.3 million in Q1 2025, compared to $3.7 million in Q4 2024 and $1.4 million in Q1 2024[7] - The provision for credit losses increased to $9,250,000 in Q1 2025, compared to $3,699,000 in Q4 2024, reflecting a significant rise of 150.5%[27] - Nonperforming loans decreased to $71.0 million, or 0.68% of total loans, as of March 31, 2025, down from $92.4 million at December 31, 2024[13] - Nonperforming loans decreased to $71,018 thousand in Q1'25 from $92,446 thousand in Q4'24, a decline of 23.2%[29] - The allowance for credit losses stood at $140,267 thousand at the end of Q1'25, slightly up from $138,055 thousand in Q4'24[29] Operational Efficiency - The efficiency ratio was 60.28% in Q1 2025, compared to 56.26% in Q4 2024 and 66.78% in the prior year quarter[9] - The efficiency ratio was reported at 60.28% for Q1 2025, compared to 56.26% in Q4 2024[14] - Adjusted Efficiency Ratio for Q1'25 was 59.53%, compared to 56.07% in Q4'24, indicating a decline in efficiency[34] Future Outlook and Mergers - The Company announced the proposed acquisition of Heartland Bancshares, Inc., expected to close in Q3 2025, which will add four branches in Central Florida[4][8] - Seacoast is in the process of merging with Heartland Bancshares, Inc. and Heartland National Bank, which may impact future financial performance[17] - The company emphasizes the importance of reading the proxy statement/prospectus related to the merger for critical information[17]

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].

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]