Seacoast Banking Corp. of Florida soars 22% despite Q1 profit decline
Seacoast Banking Corp. of Florida (Nasdaq:SBCF) shares are soaring more than 22% after the bank holding company announced first-quarter net income of $1.8 million, or $0.09 per share, compared with $2.8 million, or $0.14 per share, a year earlier. Excluding credit costs, core earnings were $5.2 million, or $0.27 per share, versus $4.3 million, or $0.23 per share, a year earlier. Wall Street analysts expected earnings of $0.10 per share.
In Tuesday morning trading, SBCF shares are up 22.07%, or $2.09, at $11.56. For detailed price information and recent news stories about Seacoast Banking Corp. of Florida, click SBCF.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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