$0.48 EPS Expected for Seacoast Banking Co. of Florida (NASDAQ:SBCF) This Quarter

Brokerages predict that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will report earnings per share of $0.48 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Seacoast Banking Co. of Florida’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.47. Seacoast Banking Co. of Florida reported earnings per share of $0.38 in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.3%. The firm is expected to announce its next quarterly earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Seacoast Banking Co. of Florida will report full-year earnings of $1.98 per share for the current financial year, with EPS estimates ranging from $1.95 to $2.00. For the next year, analysts forecast that the business will report earnings of $2.14 per share, with EPS estimates ranging from $2.05 to $2.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.47. Seacoast Banking Co. of Florida had a net margin of 23.29% and a return on equity of 10.47%. The firm had revenue of $73.61 million during the quarter, compared to analyst estimates of $74.28 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share.

Several research analysts have weighed in on SBCF shares. Hovde Group lowered shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $28.00 to $27.50 in a research note on Monday, March 4th. Raymond James set a $29.00 target price on shares of Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research note on Friday, June 21st. ValuEngine lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. BidaskClub lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. Finally, Zacks Investment Research raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $30.30.

Shares of SBCF stock opened at $24.13 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 14.90 and a beta of 0.90. The stock’s 50-day moving average is $24.79. Seacoast Banking Co. of Florida has a 1-year low of $21.74 and a 1-year high of $34.95.

In other Seacoast Banking Co. of Florida news, EVP Juliette Kleffel sold 4,433 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $24.13, for a total transaction of $106,968.29. Following the completion of the transaction, the executive vice president now owns 4,730 shares of the company’s stock, valued at $114,134.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SBCF. Bank of Montreal Can lifted its position in shares of Seacoast Banking Co. of Florida by 16.0% during the fourth quarter. Bank of Montreal Can now owns 3,120 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 431 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth about $202,000. Everence Capital Management Inc. acquired a new stake in shares of Seacoast Banking Co. of Florida during the first quarter worth about $224,000. BNP Paribas Arbitrage SA lifted its position in shares of Seacoast Banking Co. of Florida by 59,725.0% during the first quarter. BNP Paribas Arbitrage SA now owns 9,572 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 9,556 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 11.7% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 12,108 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 1,271 shares in the last quarter. 83.94% of the stock is currently owned by institutional investors and hedge funds.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. The company offers commercial and retail banking, wealth management, and treasury management services, as well as home mortgage products; and brokerage and annuity services.

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Earnings History and Estimates for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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