Seacoast Banking Corporation of Florida Stock Research

Market Summary

USD20.81-0.49

Market Closed

-2.30%

SBCF Alerts

2 major insider buys recently.
Big jump in Revenue (Y/Y)
Big fall in earnings (Y/Y)

SBCF Stock Price

SBCF RSI Chart

SBCF Valuation

Market Cap

1.8B

Price/Earnings (Trailing)

18.44

Price/Sales (Trailing)

3.92

EV/EBITDA

1.98

Price/Free Cashflow

11.67

SBCF Price/Sales (Trailing)

SBCF Profitability

EBT Margin

39.71%

Return on Equity

6.62%

Return on Assets

0.88%

Free Cashflow Yield

8.57%

SBCF Fundamentals

SBCF Revenue

Revenue (TTM)

460.3M

Revenue Y/Y

101.95%

Revenue Q/Q

24.3%

SBCF Earnings

Earnings (TTM)

97.7M

Earnings Y/Y

-42.55%

Earnings Q/Q

-50.57%

Price Action

52 Week Range

17.9336.92

(Low)(High)

Last 7 days

-0.6%

Last 30 days

-4.0%

Last 90 days

-29.9%

Trailing 12 Months

-37.8%

SBCF Financial Health

SBCF Investor Care

Dividend Yield

3.19%

Dividend/Share (TTM)

0.68

Shares Dilution (1Y)

38.16%

Diluted EPS (TTM)

1.48

Peers (Alternatives to Seacoast Banking Corporation of Florida)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
BNS	56.4B	40.0B	-2.14%	-24.99%	5.3	1.79	34.99%	-10.60%
MTB	21.9B	7.6B	-0.45%	-30.27%	15.92	3.51	98.59%	-3.15%
CFG	13.1B	8.2B	-10.89%	-32.08%	6.08	1.59	70.15%	1.69%
MID-CAP
EWBC	7.6B	2.7B	-3.73%	-31.47%	6.71	3.26	63.22%	33.92%
SIVB	6.3B	5.7B	-67.21%	-80.32%	3.9	1.11	72.48%	-22.38%
CBSH	5.9B	1.1B	-12.71%	-29.09%	12.1	5.41	28.89%	-5.45%
PB	5.3B	1.1B	-6.77%	-18.97%	10.16	4.87	4.58%	1.01%
BPOP	4.3B	2.7B	-1.00%	-26.69%	4.07	1.6	25.66%	18.78%
FFIN	3.8B	457.4M	-8.51%	-35.38%	16.62	8.4	19.47%	1.97%
WAL	3.5B	3.2B	-4.10%	-56.03%	3.34	1.31	75.57%	1.33%
SMALL-CAP
BANR	1.8B	483.8M	-8.60%	-22.29%	9.28	4.02	10.67%	4.45%
SBCF	1.8B	460.3M	-4.01%	-37.85%	18.44	3.92	57.00%	-12.16%
LKFN	1.3B	270.8M	2.29%	-28.54%	12.62	4.87	40.09%	8.36%
HTLF	1.2B	750.4M	-12.01%	-34.06%	5.79	1.82	28.80%	5.55%

Financials for Seacoast Banking Corporation of Florida

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	21.0%	460	380	327	309	293
EBITDA	0.1%	476	475	450	433	-
EBITDA Margin	-22.5%	1.25*	1.61*	1.63*	1.48*	-
Earnings Before Taxes	-8.6%	138	151	143	141	-
EBT Margin	-22.6%	0.40*	0.51*	0.52*	0.48*	-
Interest Expenses	14.9%	366	319	302	286	-
Net Income	-8.2%	98.00	107	119	113	111
Net Income Margin	-30.7%	0.28*	0.40*	0.41*	0.38*	-
Free Cahsflow	-0.7%	196	197	171	162	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	25.6%	15,255	12,146	10,345	10,812	10,905
Cash Equivalents	291.8%	791	202	219	901	1,223
Net PPE	-0.3%	117	117	82.00	75.00	75.00
Goodwill	51.6%	728	480	90.00	287	287
Liabilities	25.3%	13,204	10,538	9,057	9,482	9,549
Shareholder's Equity	27.6%	2,051	1,608	1,288	1,330	1,356
Retained Earnings	-0.6%	421	424	-	-	-
Additional Paid-In Capital	30.9%	1,804	1,378	-	-	-
Shares Outstanding	18.1%	85.00	72.00	61.00	61.00	61.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-21.2%	154	196	197	171	162
Share Based Compensation	11.0%	12.00	11.00	8.00	9.00	8.00
Cashflow From Investing	101.7%	6.00	-364	-1,031	-944	-675
Cashflow From Financing	-61.4%	-592	-366	-174	226	757

Risks for SBCF

What is the probability of a big loss on SBCF?

80.4%

Probability that Seacoast Banking Corporation of Florida stock will be more than 20% underwater in next one year

28.9%

Probability that Seacoast Banking Corporation of Florida stock will be more than 30% underwater in next one year.

20.4%

Probability that Seacoast Banking Corporation of Florida stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SBCF drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Seacoast Banking Corporation of Florida was unfortunately bought at previous high price.

Drawdowns

Returns for SBCF

Cumulative Returns on SBCF

7.5%

10-Year Cumulative Returns

3.7%

7-Year Cumulative Returns

-7.0%

5-Year Cumulative Returns

What are the long-term rolling returns for SBCF?

FIve years rolling returns for Seacoast Banking Corporation of Florida.

Annualized Returns

Which funds bought or sold SBCF recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	added	9.28	-52,174	255,391	-%
2023-05-23	ROYCE & ASSOCIATES LP	added	3.38	-2,726,880	9,990,400	0.10%
2023-05-22	AMERIPRISE FINANCIAL INC	added	32.74	137,325	16,048,300	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-2.71	-1,882,000	5,337,000	0.01%
2023-05-18	JPMORGAN CHASE & CO	added	51.31	1,115,000	8,563,000	-%
2023-05-17	Thrivent Financial for Lutherans	added	9.84	-8,190,000	41,335,000	0.10%
2023-05-17	Advisory Services Network, LLC	new	-	23,700	23,700	-%
2023-05-16	JANE STREET GROUP, LLC	new	-	815,849	815,849	-%
2023-05-16	SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC	sold off	-100	-731,811	-	-%
2023-05-16	FRED ALGER MANAGEMENT, LLC	reduced	-85.48	-38,500,700	4,776,330	0.03%

Latest Funds Activity

Are funds buying SBCF calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SBCF

No. of Funds

Seacoast Banking Corporation of Florida News

Schedule 13G FIlings of Seacoast Banking Corporation of Florida

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	price t rowe associates inc /md/	0.2%	157,284	SC 13G/A
Feb 13, 2023	capital world investors	6.5%	4,323,901	SC 13G/A
Feb 09, 2023	vanguard group inc	6.80%	4,528,249	SC 13G/A
Jan 23, 2023	blackrock inc.	14.7%	9,008,578	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	7.8%	4,581,082	SC 13G/A
Feb 11, 2022	capital world investors	7.0%	4,106,901	SC 13G/A
Feb 10, 2022	vanguard group inc	6.20%	3,619,289	SC 13G/A
Jan 27, 2022	blackrock inc.	14.8%	8,625,827	SC 13G/A
Jan 25, 2022	blackrock inc.	14.8%	8,625,827	SC 13G/A
Feb 16, 2021	capital world investors	6.9%	3,781,901	SC 13G/A

SBCF Fair Value

Show Fair-Value

Recent SEC filings of Seacoast Banking Corporation of Florida

View All Filings

Date Filed	Form Type	Document
May 23, 2023	8-K	Current Report
May 10, 2023	10-Q	Quarterly Report
May 04, 2023	4	Insider Trading
May 04, 2023	4	Insider Trading
May 04, 2023	4	Insider Trading
May 04, 2023	4/A	Insider Trading
Apr 27, 2023	8-K	Current Report
Apr 21, 2023	4	Insider Trading
Apr 21, 2023	4	Insider Trading
Apr 13, 2023	ARS	ARS

Latest Insider Trading transactions for SBCF

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-02	HUDSON DENNIS S III	acquired	99,000	11.00	9,000	-
2023-05-02	FOGAL CHRISTOPHER E	bought	49,274	20.66	2,385	-
2023-05-02	Lipstein Robert J	acquired	99,288	19.2196	5,166	-
2023-05-02	Lipstein Robert J	bought	99,288	19.2196	5,166	-
2023-04-19	CULBRETH H GILBERT JR	acquired	11,076	22.1527	500	-
2023-04-19	Daum Julie H	acquired	11,076	22.1527	500	-
2023-04-01	Kleffel Juliette	sold (taxes)	-70,697	23.7	-2,983	-
2023-04-01	HUDSON DENNIS S III	sold (taxes)	-67,900	23.7	-2,865	-
2023-04-01	DEXTER TRACEY	acquired	106,240	23.63	4,496	evp & cfo
2023-04-01	Kleffel Juliette	acquired	125,003	23.63	5,290	-

About Seacoast Banking Corporation of Florida

Charles M. Shaffer

www.seacoastbanking.com

990

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; and brokerage and annuity services. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal or family purposes. As of December 31, 2021, it had 54 branch and commercial lending offices. The company was founded in 1926 and is headquartered in Stuart, Florida.

SBCF Income Statement

2023-03-31

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Interest and fees on loans	$ 135,168	$ 67,118
Interest and dividends on securities	19,349	10,181
Interest on interest bearing deposits and other investments	3,474	933
Total Interest Income	157,991	78,232
Interest on deposits	16,033	767
Interest on time certificates	5,552	468
Interest on borrowed money	5,254	475
Total Interest Expense	26,839	1,710
Net Interest Income	131,152	76,522
Provision for credit losses	31,598	6,556
Net Interest Income after Provision for Credit Losses	99,554	69,966
Noninterest income:
Service charges on deposit accounts	4,242	2,801
Interchange income	4,694	4,128
Wealth management income	3,063	2,659
Mortgage banking fees	426	1,686
Insurance agency income	1,101	0
SBA gains	322	156
BOLI income	1,916	1,334
Other	6,574	3,061
Noninterest income, excluding securities gains (losses)	22,338	15,825
Securities gains (losses), net	107	(452)
Total Noninterest Income	22,445	15,373
Noninterest Expense:
Salaries and wages	47,616	28,219
Employee benefits	8,562	5,501
Outsourced data processing costs	14,553	6,156
Telephone / data lines	1,081	733
Occupancy	6,938	3,986
Furniture and equipment	2,267	1,426
Marketing	2,238	1,171
Legal and professional fees	7,479	4,789
FDIC assessments	1,443	789
Amortization of intangibles	6,727	1,446
Foreclosed property expense and net loss (gain) on sale	195	(164)
Provision for credit losses on unfunded commitments	1,239	142
Other	7,137	4,723
Total Noninterest Expense	107,475	58,917
Income Before Income Taxes	14,524	26,422
Provision for income taxes	2,697	5,834
Net Income	$ 11,827	$ 20,588
Net income per share of common stock
Diluted (in dollars per share)	$ 0.15	$ 0.33
Basic (in dollars per share)	$ 0.15	$ 0.34
Average common shares outstanding
Diluted (in shares)	80,717	61,704
Basic (in shares)	80,151	61,127

SBCF Balance Sheet

2023-03-31

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 180,607	$ 120,748
Interest bearing deposits with other banks	610,636	81,192
Total cash and cash equivalents	791,243	201,940
Time deposits with other banks	3,236	3,236
Debt securities:
Securities available-for-sale (at fair value)	2,015,967	1,871,742
Securities held-to-maturity (fair value $618.8 million at March 31, 2023 and $617.7 million at December 31, 2022)	737,911	747,408
Total debt securities	2,753,878	2,619,150
Loans held for sale (at fair value)	2,838	3,151
Loans	10,134,395	8,144,724
Less: Allowance for credit losses	(155,640)	(113,895)
Loans, net of allowance for credit losses	9,978,755	8,030,829
Bank premises and equipment, net	116,522	116,892
Other real estate owned	7,756	2,301
Goodwill	728,396	480,319
Other intangible assets, net	117,409	75,451
Bank owned life insurance	292,545	237,824
Net deferred tax assets	124,301	94,457
Other assets	338,529	280,212
Total Assets	15,255,408	12,145,762
Liabilities
Deposits	12,309,701	9,981,595
Securities sold under agreements to repurchase, maturing within 30 days	267,606	172,029
Federal Home Loan Bank ("FHLB") borrowings	385,000	150,000
Subordinated debt	105,804	84,533
Other liabilities	136,213	149,830
Total Liabilities	13,204,324	10,537,987
Shareholders' Equity
Common stock, par value $0.10 per share, authorized 120,000,000 shares, issued 85,093,864 and outstanding 84,609,320 at March 31, 2023, and authorized 120,000,000, issued 72,099,136 and outstanding 71,617,852 shares at December 31, 2022	8,461	7,162
Additional paid-in-capital	1,803,898	1,377,802
Retained earnings	421,271	423,863
Less: Treasury stock	(13,113)	(13,019)
Total shareholders' equity, before accumulated other comprehensive (loss) income, net	2,220,517	1,795,808
Accumulated other comprehensive loss, net	(169,433)	(188,033)
Total Shareholders' Equity	2,051,084	1,607,775
Total Liabilities and Shareholders' Equity	$ 15,255,408	$ 12,145,762