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Recommendations
Seacoast Banking price target lowered to $38 from $41 at Truist » 07:46
09/14/22
09/14
07:46
09/14/22
07:46
SBCF

Seacoast Banking

$31.35 /

-0.88 (-2.73%)

Truist analyst Brandon…

Truist analyst Brandon King lowered the firm's price target on Seacoast Banking to $38 from $41 and keeps a Buy rating on the shares as part of a broader research note on Banks. The analyst is updating his estimates to reflect slightly higher net interest margins and lower credit costs over the near term, adding that as the pace of Fed Funds hikes this year slows the economy, investors will gravitate toward bank stocks with conservative credit cultures and more discounted stock valuations.

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SBCF Seacoast Banking
$31.35 /

-0.88 (-2.73%)

SBCF Seacoast Banking
$31.35 /

-0.88 (-2.73%)

08/09/22 Raymond James
Professional Holding downgraded to Market Perform on buyout at Raymond James
07/11/22 B. Riley
Seacoast Banking price target lowered to $34 from $36 at B. Riley
07/06/22 Truist
Seacoast Banking price target lowered to $39 from $42 at Truist
01/17/22 Keefe Bruyette
Seacoast Banking initiated with a Market Perform at Keefe Bruyette
SBCF Seacoast Banking
$31.35 /

-0.88 (-2.73%)

Over a month ago
Conference/Events
Seacoast Banking management to meet with Piper Sandler » 04:55
08/12/22
08/12
04:55
08/12/22
04:55
SBCF

Seacoast Banking

$34.73 /

+0.33 (+0.96%)

Meetings to be held in…

Meetings to be held in Baltimore, Boston and Washington, DC on August 11-12 hosted by Piper Sandler.

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SBCF Seacoast Banking
$34.73 /

+0.33 (+0.96%)

SBCF Seacoast Banking
$34.73 /

+0.33 (+0.96%)

08/09/22 Raymond James
Professional Holding downgraded to Market Perform on buyout at Raymond James
07/11/22 B. Riley
Seacoast Banking price target lowered to $34 from $36 at B. Riley
07/06/22 Truist
Seacoast Banking price target lowered to $39 from $42 at Truist
01/17/22 Keefe Bruyette
Seacoast Banking initiated with a Market Perform at Keefe Bruyette
SBCF Seacoast Banking
$34.73 /

+0.33 (+0.96%)

Conference/Events
Seacoast Banking management to meet with Piper Sandler » 04:55
08/11/22
08/11
04:55
08/11/22
04:55
SBCF

Seacoast Banking

$34.33 /

-0.07 (-0.20%)

Meetings to be held in…

Meetings to be held in Baltimore, Boston and Washington, DC on August 11-12 hosted by Piper Sandler.

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SBCF Seacoast Banking
$34.33 /

-0.07 (-0.20%)

SBCF Seacoast Banking
$34.33 /

-0.07 (-0.20%)

08/09/22 Raymond James
Professional Holding downgraded to Market Perform on buyout at Raymond James
07/11/22 B. Riley
Seacoast Banking price target lowered to $34 from $36 at B. Riley
07/06/22 Truist
Seacoast Banking price target lowered to $39 from $42 at Truist
01/17/22 Keefe Bruyette
Seacoast Banking initiated with a Market Perform at Keefe Bruyette
SBCF Seacoast Banking
$34.33 /

-0.07 (-0.20%)

Downgrade
Professional Holding downgraded to Market Perform on buyout at Raymond James » 05:46
08/09/22
08/09
05:46
08/09/22
05:46
PFHD

Professional Holding

$29.65 /

+6.58 (+28.52%)

, SBCF

Seacoast Banking

$34.58 /

-2.16 (-5.88%)

Raymond James analyst…

Raymond James analyst Michael Rose downgraded Professional Holding (PFHD) to Market Perform from Outperform without a price target following the company's announced sale to Seacoast Banking (SBCF). The analyst sees the shares as largely range bound until the deal's projected closing in Q1 of 2023. He views the acquisition favorably for Seacoast.

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SBCF Seacoast Banking
$34.58 /

-2.16 (-5.88%)

PFHD Professional Holding
$29.65 /

+6.58 (+28.52%)

PFHD Professional Holding
$29.65 /

+6.58 (+28.52%)

08/09/22 Raymond James
Professional Holding downgraded to Market Perform at Raymond James
05/09/22 Piper Sandler
Professional Holding downgraded to Neutral from Overweight at Piper Sandler
SBCF Seacoast Banking
$34.58 /

-2.16 (-5.88%)

07/11/22 B. Riley
Seacoast Banking price target lowered to $34 from $36 at B. Riley
07/06/22 Truist
Seacoast Banking price target lowered to $39 from $42 at Truist
01/17/22 Keefe Bruyette
Seacoast Banking initiated with a Market Perform at Keefe Bruyette
10/06/21 B. Riley
Seacoast Banking downgraded to Neutral from Buy at B. Riley
SBCF Seacoast Banking
$34.58 /

-2.16 (-5.88%)

PFHD Professional Holding
$29.65 /

+6.58 (+28.52%)

Conference/Events
Seacoast Banking management to meet with Piper Sandler » 15:53
08/08/22
08/08
15:53
08/08/22
15:53
SBCF

Seacoast Banking

$34.69 /

-2.05 (-5.58%)

Meetings to be held in…

Meetings to be held in Baltimore, Boston and Washington, DC on August 11-12 hosted by Piper Sandler.

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SBCF Seacoast Banking
$34.69 /

-2.05 (-5.58%)

SBCF Seacoast Banking
$34.69 /

-2.05 (-5.58%)

07/11/22 B. Riley
Seacoast Banking price target lowered to $34 from $36 at B. Riley
07/06/22 Truist
Seacoast Banking price target lowered to $39 from $42 at Truist
01/17/22 Keefe Bruyette
Seacoast Banking initiated with a Market Perform at Keefe Bruyette
10/06/21 B. Riley
Seacoast Banking downgraded to Neutral from Buy at B. Riley
SBCF Seacoast Banking
$34.69 /

-2.05 (-5.58%)

Hot Stocks
Seacoast Banking to acquire Professional Holding for $488.6M » 08:12
08/08/22
08/08
08:12
08/08/22
08:12
SBCF

Seacoast Banking

$36.76 /

+0.565 (+1.56%)

, PFHD

Professional Holding

$23.17 /

+0.58 (+2.57%)

Seacoast Banking (SBCF)…

Seacoast Banking (SBCF) and Professional Holding (PFHD), parent company of Professional Bank, announced that they have signed a definitive agreement under which Seacoast will acquire Professional. The proposed transaction will expand Seacoast's footprint in the dynamic tri-county South Florida market, which includes Miami-Dade, Broward, and Palm Beach Counties, the largest MSA in Florida and the eighth largest in the nation. Professional Bank, the sixth largest bank headquartered in South Florida, operates nine branches across Miami-Dade, Broward and Palm Beach counties, with deposits of approximately $2.4 billion and loans of $2.0 billion as of June 30, 2022. The proposed transaction is a natural continuation of Seacoast's M&A strategy, adding a premier franchise in one of Florida's fastest-growing markets. Under the terms of the acquisition agreement, Professional shareholders are to receive 0.8909 shares of Seacoast common stock for each share of Professional common stock. The exchange ratio for the transaction is fixed, which means that the transaction value will fluctuate as a result of changes in Seacoast's stock price. Based on Seacoast's closing price of $36.75 per share, as of August 5, 2022, the transaction is valued at approximately $488.6M. Closing of the transaction is expected in the first quarter of 2023, following receipt of approvals from regulatory authorities, required shareholder approvals, and the satisfaction of other customary closing conditions. Following completion of the transaction and system integrations, Professional Bank will operate as Seacoast Bank.

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SBCF Seacoast Banking
$36.76 /

+0.565 (+1.56%)

PFHD Professional Holding
$23.17 /

+0.58 (+2.57%)

SBCF Seacoast Banking
$36.76 /

+0.565 (+1.56%)

07/11/22 B. Riley
Seacoast Banking price target lowered to $34 from $36 at B. Riley
07/06/22 Truist
Seacoast Banking price target lowered to $39 from $42 at Truist
01/17/22 Keefe Bruyette
Seacoast Banking initiated with a Market Perform at Keefe Bruyette
10/06/21 B. Riley
Seacoast Banking downgraded to Neutral from Buy at B. Riley
PFHD Professional Holding
$23.17 /

+0.58 (+2.57%)

05/09/22 Piper Sandler
Professional Holding downgraded to Neutral from Overweight at Piper Sandler
SBCF Seacoast Banking
$36.76 /

+0.565 (+1.56%)

PFHD Professional Holding
$23.17 /

+0.58 (+2.57%)

Hot Stocks
Seacoast Banking to acquire Professional Holding in $488.6M transaction » 08:09
08/08/22
08/08
08:09
08/08/22
08:09
SBCF

Seacoast Banking

$36.76 /

+0.565 (+1.56%)

, PFHD

Professional Holding

$23.17 /

+0.58 (+2.57%)

Seacoast Banking…

Seacoast Banking Corporation of Florida (SBCF) and Professional Holding Corp. (PFHD), parent company of Professional Bank, announced that they have signed a definitive agreement under which Seacoast will acquire Professional. The proposed transaction will expand Seacoast's footprint in the dynamic tri-county South Florida market, which includes Miami-Dade, Broward, and Palm Beach Counties, the largest MSA in Florida and the eighth largest in the nation. Professional Bank, the sixth largest bank headquartered in South Florida, operates nine branches across Miami-Dade, Broward and Palm Beach counties, with deposits of approximately $2.4 billion and loans of $2.0 billion as of June 30, 2022. The proposed transaction is a natural continuation of Seacoast's M&A strategy, adding a premier franchise in one of Florida's fastest-growing markets. Following the acquisition, Mr. Iglesias will join Seacoast, serving as Miami-Dade Regional President. The proposed transaction exemplifies Seacoast's strategy of entry into and consolidation within attractive growth markets, low concentration risks, and ease of execution that does not distract from its organic strategy. Seacoast expects the transaction to be 11.8% accretive to earnings per share in 2023, and 15.4% in 2024, with modest dilution of tangible book value per share that will be earned back in 2.3 years. Under the terms of the acquisition agreement, Professional shareholders are to receive 0.8909 shares of Seacoast common stock for each share of Professional common stock. The exchange ratio for the transaction is fixed, which means that the transaction value will fluctuate as a result of changes in Seacoast's stock price. Based on Seacoast's closing price of $36.75 per share, as of August 5, 2022, the transaction is valued at approximately $488.6 million. Closing of the transaction is expected in the first quarter of 2023, following receipt of approvals from regulatory authorities, required shareholder approvals, and the satisfaction of other customary closing conditions. Following completion of the transaction and system integrations, Professional Bank will operate as Seacoast Bank.

ShowHide Related Items >><<
SBCF Seacoast Banking
$36.76 /

+0.565 (+1.56%)

PFHD Professional Holding
$23.17 /

+0.58 (+2.57%)

SBCF Seacoast Banking
$36.76 /

+0.565 (+1.56%)

07/11/22 B. Riley
Seacoast Banking price target lowered to $34 from $36 at B. Riley
07/06/22 Truist
Seacoast Banking price target lowered to $39 from $42 at Truist
01/17/22 Keefe Bruyette
Seacoast Banking initiated with a Market Perform at Keefe Bruyette
10/06/21 B. Riley
Seacoast Banking downgraded to Neutral from Buy at B. Riley
PFHD Professional Holding
$23.17 /

+0.58 (+2.57%)

05/09/22 Piper Sandler
Professional Holding downgraded to Neutral from Overweight at Piper Sandler
SBCF Seacoast Banking
$36.76 /

+0.565 (+1.56%)

PFHD Professional Holding
$23.17 /

+0.58 (+2.57%)

Earnings
Seacoast Banking reports Q2 EPS 53c, consensus 53c » 16:04
07/28/22
07/28
16:04
07/28/22
16:04
SBCF

Seacoast Banking

$35.51 /

+0.2 (+0.57%)

Reports Q2 revenue…

Reports Q2 revenue $98.61M, consensus $97.5M. Reports Q2 tangible book value per share $16.66. Reports Q2 CET1 capital ratio 11.6%. Charles Shaffer, Seacoast's chairman and CEO, said, "Our quarterly results demonstrate the continued success of our balanced growth strategy, with steady, disciplined organic growth and financially attractive and well-integrated acquisitions combining to deliver strong returns for our shareholders. The quarter was highlighted by a significant increase in our net interest margin, strong loan originations, and continued growth in demand deposits. Adjusted pre-tax pre-provision earnings1 increased 11% over the prior quarter to $46.4 million, driving improvements in the overhead ratio, return on tangible assets, and return on tangible common equity."

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SBCF Seacoast Banking
$35.51 /

+0.2 (+0.57%)

SBCF Seacoast Banking
$35.51 /

+0.2 (+0.57%)

07/11/22 B. Riley
Seacoast Banking price target lowered to $34 from $36 at B. Riley
07/06/22 Truist
Seacoast Banking price target lowered to $39 from $42 at Truist
01/17/22 Keefe Bruyette
Seacoast Banking initiated with a Market Perform at Keefe Bruyette
10/06/21 B. Riley
Seacoast Banking downgraded to Neutral from Buy at B. Riley
SBCF Seacoast Banking
$35.51 /

+0.2 (+0.57%)

Recommendations
Seacoast Banking price target lowered to $34 from $36 at B. Riley » 07:33
07/11/22
07/11
07:33
07/11/22
07:33
SBCF

Seacoast Banking

$33.31 /

+0.19 (+0.57%)

B. Riley analyst Steve…

B. Riley analyst Steve Moss lowered the firm's price target on Seacoast Banking to $34 from $36 and keeps a Neutral rating on the shares. The analyst believes the sharp increase in interest rates is bad for banks, saying the risks to loan growth and credit have increased with a hawkish Federal Reserve and that downside to 2023 consensus "is growing." Further, sharply higher short-term interest rates should lead to a sharp increase in deposit betas in 2023 that can hurt net interest margins and earnings when rate hikes stop, Moss tells investors in a research note.

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SBCF Seacoast Banking
$33.31 /

+0.19 (+0.57%)

SBCF Seacoast Banking
$33.31 /

+0.19 (+0.57%)

07/06/22 Truist
Seacoast Banking price target lowered to $39 from $42 at Truist
01/17/22 Keefe Bruyette
Seacoast Banking initiated with a Market Perform at Keefe Bruyette
10/06/21 B. Riley
Seacoast Banking downgraded to Neutral from Buy at B. Riley
07/26/21 B. Riley
Seacoast Banking price target lowered to $36 from $40 at B. Riley
SBCF Seacoast Banking
$33.31 /

+0.19 (+0.57%)

Recommendations
Seacoast Banking price target lowered to $39 from $42 at Truist » 07:20
07/06/22
07/06
07:20
07/06/22
07:20
SBCF

Seacoast Banking

$33.56 /

-0.04 (-0.12%)

Truist analyst Brandon…

Truist analyst Brandon King lowered the firm's price target on Seacoast Banking to $39 from $42 and keeps a Buy rating on the shares to reflect greater credit conservatism offset by higher NIM. The analyst continues to believe that banks are very well positioned for a downturn with strong capital and LLR levels and diverse loan portfolios, King tells investors in a research note.

ShowHide Related Items >><<
SBCF Seacoast Banking
$33.56 /

-0.04 (-0.12%)

SBCF Seacoast Banking
$33.56 /

-0.04 (-0.12%)

01/17/22 Keefe Bruyette
Seacoast Banking initiated with a Market Perform at Keefe Bruyette
10/06/21 B. Riley
Seacoast Banking downgraded to Neutral from Buy at B. Riley
07/26/21 B. Riley
Seacoast Banking price target lowered to $36 from $40 at B. Riley
SBCF Seacoast Banking
$33.56 /

-0.04 (-0.12%)

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