Florida regional bank Seacoast Banking (NASDAQ: SBCF) will be reporting results this Tuesday after market close. Here’s what to expect.
Seacoast Banking met analysts’ revenue expectations last quarter, reporting revenues of $210 million, up 38.4% year on year. It was a slower quarter for the company, with a significant miss of analysts’ tangible book value per share estimates and EPS in line with analysts’ estimates.
Is Seacoast Banking a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Seacoast Banking’s revenue to grow 36% year on year, improving from the 21.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Seacoast Banking rarely misses Wall Street’s revenue estimates.
Looking at Seacoast Banking’s peers in the regional banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Byline Bancorp delivered year-on-year revenue growth of 4.6%, beating analysts’ expectations by 3.7%, and First Citizens BancShares reported flat revenue, topping estimates by 2%. Byline Bancorp traded up 1.1% following the results.
Read our full analysis of Byline Bancorp’s results here and First Citizens BancShares’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Seacoast Banking is up 3.1% during the same time and is heading into earnings with an average analyst price target of $36.71 (compared to the current share price of $33.56).
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