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Seacoast Banking: 3Q Earnings Snapshot

·1 min read

STUART, Fla. (AP) _ Seacoast Banking Corp. of Florida (SBCF) on Tuesday reported third-quarter profit of $22.6 million.

The bank, based in Stuart, Florida, said it had earnings of 42 cents per share. Earnings, adjusted for non-recurring costs, were 50 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The holding company for Seacoast National Bank posted revenue of $85.1 million in the period. Its revenue net of interest expense was $80.4 million, missing Street forecasts. Four analysts surveyed by Zacks expected $84.5 million.

Seacoast Banking shares have fallen 32% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.92, a drop of 27% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBCF at https://www.zacks.com/ap/SBCF