Professional
Added to YB: 2024-07-26
Pitch date: 2024-06-30
SBCF [bullish]
Seacoast Banking Corporation of Florida
+44.37%
current return
Author Info
No bio for this author
Company Info
Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida.
Market Cap
$2.9B
Pitch Price
$22.64
Price Target
N/A
Dividend
2.50%
EV/EBITDA
N/A
P/E
18.13
EV/Sales
N/A
Sector
Banks
Category
turnaround
Heartland Value Fund New Position: Seacoast Banking Corporation of Florida
SBCF: FL bank, -17% YTD. NIM rebound expected H2. Cost cuts via branch closures, banker additions. Potential operating leverage on loan demand uptick. Takeout target as pure-play FL regional bank. Trades 1.5x TBV, 1 SD below 10-yr avg. Upside: NIM recovery, cost efficiencies, M&A potential. Risks: Prolonged profitability concerns.
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