Seacoast Banking Corporation of Florida (SBCF) Expected to Post Earnings of $0.36 Per Share

Wall Street brokerages expect that Seacoast Banking Corporation of Florida (NASDAQ:SBCF) will report earnings per share (EPS) of $0.36 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Seacoast Banking Corporation of Florida’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.37. Seacoast Banking Corporation of Florida reported earnings per share of $0.30 in the same quarter last year, which indicates a positive year over year growth rate of 20%. The company is expected to announce its next earnings results on Wednesday, February 7th.

According to Zacks, analysts expect that Seacoast Banking Corporation of Florida will report full-year earnings of $1.24 per share for the current financial year, with EPS estimates ranging from $1.23 to $1.25. For the next fiscal year, analysts expect that the business will post earnings of $1.59 per share, with EPS estimates ranging from $1.55 to $1.62. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Seacoast Banking Corporation of Florida.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 9.37% and a net margin of 18.48%. The business had revenue of $57.10 million for the quarter, compared to the consensus estimate of $57.55 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 20.9% compared to the same quarter last year.

A number of brokerages have issued reports on SBCF. BidaskClub upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, FBR & Co reaffirmed a “buy” rating and set a $27.00 target price on shares of Seacoast Banking Corporation of Florida in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Seacoast Banking Corporation of Florida presently has an average rating of “Hold” and an average target price of $24.67.

Shares of Seacoast Banking Corporation of Florida (SBCF) traded up $0.29 during mid-day trading on Monday, reaching $25.04. The company’s stock had a trading volume of 129,900 shares, compared to its average volume of 281,122. Seacoast Banking Corporation of Florida has a fifty-two week low of $18.41 and a fifty-two week high of $25.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market capitalization of $1,089.55, a P/E ratio of 20.87 and a beta of 0.77.

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In other news, CEO Dennis S. Hudson III sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $24.39, for a total transaction of $195,120.00. Following the transaction, the chief executive officer now owns 19,247 shares of the company’s stock, valued at $469,434.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dennis S. Hudson III sold 2,300 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $24.22, for a total value of $55,706.00. Following the transaction, the chief executive officer now directly owns 19,247 shares in the company, valued at approximately $466,162.34. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

A number of large investors have recently made changes to their positions in SBCF. William Blair Investment Management LLC bought a new position in Seacoast Banking Corporation of Florida in the second quarter worth approximately $19,215,000. Jennison Associates LLC grew its stake in Seacoast Banking Corporation of Florida by 62.1% in the third quarter. Jennison Associates LLC now owns 1,601,955 shares of the financial services provider’s stock worth $38,271,000 after purchasing an additional 613,947 shares in the last quarter. State Street Corp grew its stake in Seacoast Banking Corporation of Florida by 97.4% in the first quarter. State Street Corp now owns 962,034 shares of the financial services provider’s stock worth $23,071,000 after purchasing an additional 474,704 shares in the last quarter. Vanguard Group Inc. grew its stake in Seacoast Banking Corporation of Florida by 37.6% in the first quarter. Vanguard Group Inc. now owns 1,527,831 shares of the financial services provider’s stock worth $36,637,000 after purchasing an additional 417,334 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in Seacoast Banking Corporation of Florida by 44.4% in the second quarter. Lord Abbett & CO. LLC now owns 1,004,387 shares of the financial services provider’s stock worth $24,206,000 after purchasing an additional 308,644 shares in the last quarter. 76.72% of the stock is currently owned by institutional investors.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

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

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