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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 Q2 Earnings: What Key Metrics Have to Say
Seacoast Banking (SBCF - Free Report) reported $126.61 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 14.8%. EPS of $0.36 for the same period compares to $0.37 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $126 million, representing a surprise of +0.48%. The company delivered an EPS surprise of +9.09%, with the consensus EPS estimate being $0.33.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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:
- Average Balance - Total Earning Assets: $13.25 billion versus the three-analyst average estimate of $13.24 billion.
- Net Interest Margin: 3.2% versus 3.2% estimated by three analysts on average.
- Efficiency Ratio: 60.2% compared to the 66.4% average estimate based on three analysts.
- Total Net Charge-offs (Recoveries) to Average Loans: 0.4% compared to the 0.2% average estimate based on three analysts.
- Total nonperforming loans: $59.93 million versus $78.61 million estimated by two analysts on average.
- Total nonperforming assets: $66.80 million versus the two-analyst average estimate of $85.90 million.
- Net interest income: $104.42 million versus the three-analyst average estimate of $105.13 million.
- Net interest income - FTE: $104.66 million versus $105.33 million estimated by three analysts on average.
- Total noninterest income: $22.18 million compared to the $20.87 million average estimate based on three analysts.
View all Key Company Metrics for Seacoast Banking here>>>Shares of Seacoast Banking have returned +22.2% over the past month versus the Zacks S&P 500 composite's -0.3% 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.