Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives $29.88 Average PT from Analysts

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have earned a consensus recommendation of “Moderate Buy” from the four brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $29.88.

SBCF has been the subject of several recent research reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Truist Financial raised their target price on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Hovde Group lowered Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and upped their price target for the company from $29.00 to $31.00 in a research report on Monday, July 29th.

Seacoast Banking Co. of Florida Trading Down 1.1 %

SBCF opened at $25.61 on Thursday. The company’s 50 day moving average is $26.67 and its 200-day moving average is $24.86. The company has a market cap of $2.18 billion, a P/E ratio of 18.29 and a beta of 1.08. Seacoast Banking Co. of Florida has a 1-year low of $19.04 and a 1-year high of $29.98. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The company had revenue of $201.99 million during the quarter, compared to analysts’ expectations of $126.00 million. During the same period in the prior year, the company earned $0.37 EPS. Equities research analysts predict that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.81%. Seacoast Banking Co. of Florida’s payout ratio is currently 51.43%.

Insider Activity

In other Seacoast Banking Co. of Florida news, Director Dennis S. Hudson III sold 16,000 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total value of $432,000.00. Following the completion of the sale, the director now directly owns 234,312 shares in the company, valued at $6,326,424. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Trading of Seacoast Banking Co. of Florida

Several large investors have recently modified their holdings of SBCF. Sei Investments Co. boosted its stake in Seacoast Banking Co. of Florida by 63.8% during the first quarter. Sei Investments Co. now owns 205,996 shares of the financial services provider’s stock worth $5,230,000 after acquiring an additional 80,220 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Seacoast Banking Co. of Florida in the 1st quarter valued at about $1,325,000. William Blair Investment Management LLC grew its stake in shares of Seacoast Banking Co. of Florida by 24.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock valued at $29,710,000 after buying an additional 226,132 shares during the period. Russell Investments Group Ltd. increased its position in Seacoast Banking Co. of Florida by 23.9% in the 1st quarter. Russell Investments Group Ltd. now owns 465,273 shares of the financial services provider’s stock valued at $11,813,000 after buying an additional 89,744 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Seacoast Banking Co. of Florida by 10.2% during the 4th quarter. Schroder Investment Management Group now owns 551,327 shares of the financial services provider’s stock worth $15,691,000 after buying an additional 50,902 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.