Seacoast Banking Q1 Adjusted EPS Tops Estimates at 62 Cents; NII Misses
Seacoast Banking posted Q1 net income of $31.9 million (29 cents per share), with adjusted EPS of 62 cents topping the 58-cent consensus. Net interest income of $205.1 million trailed the $206.7 million forecast.
1. Q1 Earnings Exceed EPS Expectations
Seacoast Banking Corp. of Florida posted Q1 net income of $31.9 million, or 29 cents per share, and adjusted EPS of 62 cents, surpassing the 58-cent analyst consensus.
2. Revenue and Net Interest Income Results
The holding company recorded total revenue of $277.6 million and net interest income of $205.1 million, falling short of the $206.7 million estimate.
3. Updated Analyst Estimates and Price Targets
Full-year 2026 revenue forecasts have been raised to $850.87 million while earnings projections were lowered to $2.23 per share; analysts’ average one-year target price stands at $35.58, implying roughly 12.5% upside with a consensus Hold rating.