SBCF - Seacoast Banking Corporation of Florida
Price:
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CONSENSUS:
Hold
DETAILS
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PRICE TARGET:
$32.50
DETAILS
HIGH:
$32.50
LOW:
$32.50
MEDIAN:
$32.50
CONSENSUS:
$32.50
UPSIDE:
6.59%
AlphaVal
Deterministic, archetype-aware fair value
Banks, Insurers & Asset Managers
85% confidence
Primary model: P/Tangible Book × ROE Quality
Adjust Assumptions
7.9%
9.2%
Key Value Driver
ROTCE (7.9%) vs. cost of equity (9.2%)
Implied Market Multiple
1.62x
Plain-Language Summary
Our base-case estimate uses P/Tangible Book × ROE Quality. We then blend that result with the average analyst price target of $32.50 from 16 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $21.33 per share.
Warnings
Traditional cash flow models don't work well for banks — lending activity distorts how much cash the business actually generates.
Common valuation shortcuts don't apply here — for banks, interest payments are a core business cost, not overhead.
Return on equity (7.9%) is below the minimum investors require (9.2%). This means the bank is worth less than the net assets on its books.
Dividend-based valuation: $24.89 (41% above our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.
Wall Street's average price target is $32.50 (from 16 analysts). Our estimate is 46% below the consensus -- consider that gap carefully.
Key Risks
- Book value quality matters as much as level — check loan loss reserves
- Interest rate sensitivity creates non-linear earnings surprises
- Insurance reserving is actuarial, not financial — errors emerge slowly