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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) has received an average rating of “Moderate Buy” from the four research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $29.88.

A number of research firms have weighed in on SBCF. Truist Financial raised their price target on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Hovde Group downgraded shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $29.00 to $31.00 in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st.

Insider Transactions at Seacoast Banking Co. of Florida

In related news, Director Dennis S. Hudson III sold 16,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $27.00, for a total value of $432,000.00. Following the transaction, the director now owns 234,312 shares in the company, valued at approximately $6,326,424. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Institutional investors and hedge funds have recently modified their holdings of the business. Algert Global LLC acquired a new position in Seacoast Banking Co. of Florida in the second quarter valued at about $202,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Seacoast Banking Co. of Florida by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,424 shares of the financial services provider’s stock worth $1,121,000 after acquiring an additional 1,317 shares during the period. Deprince Race & Zollo Inc. boosted its position in shares of Seacoast Banking Co. of Florida by 4.7% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,689,888 shares of the financial services provider’s stock worth $39,949,000 after acquiring an additional 76,001 shares in the last quarter. Squarepoint Ops LLC bought a new position in Seacoast Banking Co. of Florida in the second quarter valued at approximately $334,000. Finally, Insigneo Advisory Services LLC raised its position in Seacoast Banking Co. of Florida by 495.0% during the second quarter. Insigneo Advisory Services LLC now owns 47,601 shares of the financial services provider’s stock valued at $1,183,000 after purchasing an additional 39,601 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF opened at $25.61 on Thursday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 18.29 and a beta of 1.08. Seacoast Banking Co. of Florida has a 12 month low of $19.04 and a 12 month high of $29.98. The firm has a fifty day simple moving average of $26.67 and a 200 day simple moving average of $24.86. 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 posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $201.99 million during the quarter, compared to the consensus estimate of $126.00 million. Seacoast Banking Co. of Florida had a net margin of 14.84% and a return on equity of 5.58%. During the same period in the prior year, the business posted $0.37 EPS. Research analysts forecast that Seacoast Banking Co. of Florida will post 1.41 EPS 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. This represents a $0.72 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, September 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is 51.43%.

About Seacoast Banking Co. of Florida

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.