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SBCF

|Includes: Seacoast Banking Corporation of Florida (SBCF)

Seacoast Bank is a Stuart, Florida based bank trading around $1.60.  Insiders and large institutions are buying.  If unemployment, residential and commercial real estate prices stabilize, this stock has the potential for very large gains.  However, it could also get shut down by the FDIC.  It still owes $50MM in TARP funds, so I predict the FDIC will give it some time to pay back the government.  The commercial real estate portfolio supposedly has a Loan to Value of 53%, which is very conservative.  Deposits and market share are slightly growing while the yield curve is still very favorable.  I expect it to reach $2.25, where they raised money a couple months ago, and I'll re-evaluate from there.


Disclosure: Long SBCF at the time of writing