Seacoast Banking Corp of Florida (SBCF) stock analysis

P/E above its 5-year median

Seacoast Banking Corp of Florida's P/E of 20.0 is above its own 5-year median of 18.4.

P/E above the industry

Seacoast Banking Corp of Florida's P/E of 20.0 is above the Commercial Banks median of 12.1.

P/S above the industry

Seacoast Banking Corp of Florida's price-to-sales of 4.13 is above the Commercial Banks median of 3.60.

P/B below the industry

Seacoast Banking Corp of Florida's price-to-book of 1.26 is below the Commercial Banks median of 1.29.

Trading above fair value

The share price of $33.72 is above our fair value estimate of $29.08.

Margin of safety under 20%

The price is 16.0% above fair value, so there is no margin of safety.

Revenue growing 10%+ a year

Revenue grew 14.7% a year over the last three fiscal years.

EPS growing under 10% a year

Diluted EPS grew -1.8% a year over the last three fiscal years.

Earnings growth accelerating

Net income grew 28.2% over the last twelve months, against a 5-year average of 13.3% a year.

Growing faster than the industry

Revenue grew 35.7% over the last twelve months; the Commercial Banks median is 11.3%.

Company guidance

No outlook found in earnings releases from the last twelve months.

Gross margin trend

Banks and insurers do not report gross profit.

Return on equity under 15%

Return on equity was 7.5% over the last twelve months and averaged 6.9% over five years; we look for 15% on both.

Return on assets under 1%

Return on assets was 1.0%; for a bank or insurer, 1% or more is considered good.

Return on equity below the industry

Seacoast Banking Corp of Florida's return on equity of 7.5% is below the Commercial Banks median of 11.5%.

Earnings grew over 5 years

Net income grew 13.3% a year on average over the last five fiscal years.

Net margin below its 5-year average

Net margin was 23.5% over the last twelve months, against a 5-year average of 24.9%.

Net margin below the industry

Seacoast Banking Corp of Florida's net margin of 23.5% is below the Commercial Banks median of 30.3%.

Well capitalized

Equity is 12.2% of total assets; 8% or more is a comfortable cushion.

Loans funded by deposits

Loans equal 80.7% of deposits, so lending is funded by customer deposits.

Adequate loan-loss reserve

The allowance for credit losses is 1.4% of loans; we look for at least 1%.

High cost base

Non-interest expense takes 64.4% of revenue; under 60% is efficient for a bank.

Deposits growing

Deposits grew 26.7% over the past year.

Borrowings

Needs debt and equity figures.

Pays a dividend

Seacoast Banking Corp of Florida paid dividends worth 2.3% of the share price over the last twelve months.

Yield below Treasuries

The 2.3% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.8% or more; Seacoast Banking Corp of Florida yields 2.3%.

Dividend not cut

The dividend per share has not fallen by more than 10% in any of the last 5 fiscal years.

Earnings cover

Needs dividends paid and net income.

Cash-flow cover

Needs dividends paid and free cash flow.