3. Seacoast Banking Corp.
Shares of Seacoast Banking Corp. (SBCF) of Stuart, Fla., closed at $1.71 Friday, up 3% from a year earlier.
Seacoast was originally mentioned as a takeout target by Brett Scheiner in early 2011, however, the analyst now says that with "material improvement in credit and operating trends and a deferred tax asset [that can be recaptured if the company remains profitable], they believe they can create the most value for their shareholders by operating the bank independently."The company owes $50 million in TARP money. Seacoast reported 2011 earnings available to common shareholders of $2.9 million, or three cents a share, improving from a loss of $37.0 million, or 48 cents a share, in 2010. The provision for loan losses declined to $2.0 million in 2011, from $31.7 million, a year earlier. The company estimated that its tangible common equity ratio "was 5.6 percent at year-end 2011 and will increase to an estimated 7.6 percent when the deferred tax asset valuation allowance is released." SunTrust Robinson Humphrey analyst Mac Hodgson has a neutral rating on Seacoast, saying on Jan. 27 that "potential catalysts appear to be developing slowly, and core earnings power will likely remain weak for some time," and that the shares are fairly valued, factoring-in the eventual recapture of the deferred tax assets. Seacoast trades just below tangible book value, according to HighlineFI. The consensus 2012 EPS estimate is six cents. Interested in more on Seacoast Banking Corp.? See TheStreet Ratings' report card for this stock.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV