Brokerages Anticipate Seacoast Banking Co. of Florida (SBCF) to Announce $0.41 EPS

Analysts expect that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will post earnings of $0.41 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Seacoast Banking Co. of Florida’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.43. Seacoast Banking Co. of Florida reported earnings of $0.35 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.1%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that Seacoast Banking Co. of Florida will report full-year earnings of $1.63 per share for the current financial year, with EPS estimates ranging from $1.57 to $1.71. For the next fiscal year, analysts expect that the company will post earnings of $2.11 per share, with EPS estimates ranging from $2.05 to $2.15. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.05). Seacoast Banking Co. of Florida had a net margin of 22.34% and a return on equity of 10.36%. The company had revenue of $62.98 million during the quarter, compared to analysts’ expectations of $64.78 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year.

Several analysts have recently issued reports on the company. Zacks Investment Research downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. B. Riley reduced their price objective on Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. ValuEngine downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Sandler O’Neill set a $31.00 target price on Seacoast Banking Co. of Florida and gave the stock a “hold” rating in a research report on Saturday, July 28th. Finally, BidaskClub downgraded Seacoast Banking Co. of Florida from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 13th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $32.17.

In other Seacoast Banking Co. of Florida news, Director Roger Goldman sold 1,260 shares of the company’s stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $31.25, for a total transaction of $39,375.00. Following the completion of the sale, the director now directly owns 12,815 shares in the company, valued at $400,468.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles K. Jr. Cross sold 1,754 shares of the company’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $29.50, for a total value of $51,743.00. Following the sale, the executive vice president now owns 16,681 shares of the company’s stock, valued at $492,089.50. The disclosure for this sale can be found here. Insiders have sold 5,014 shares of company stock worth $150,618 over the last quarter. 3.00% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. UBS Group AG boosted its position in Seacoast Banking Co. of Florida by 30.1% during the first quarter. UBS Group AG now owns 9,176 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 2,125 shares during the last quarter. California Public Employees Retirement System boosted its stake in Seacoast Banking Co. of Florida by 4.4% in the 1st quarter. California Public Employees Retirement System now owns 51,041 shares of the financial services provider’s stock worth $1,351,000 after purchasing an additional 2,172 shares during the period. Swiss National Bank boosted its stake in Seacoast Banking Co. of Florida by 3.7% in the 1st quarter. Swiss National Bank now owns 64,500 shares of the financial services provider’s stock worth $1,707,000 after purchasing an additional 2,300 shares during the period. Globeflex Capital L P boosted its stake in Seacoast Banking Co. of Florida by 13.3% in the 2nd quarter. Globeflex Capital L P now owns 23,000 shares of the financial services provider’s stock worth $726,000 after purchasing an additional 2,700 shares during the period. Finally, IFP Advisors Inc boosted its stake in Seacoast Banking Co. of Florida by 5.4% in the 2nd quarter. IFP Advisors Inc now owns 56,637 shares of the financial services provider’s stock worth $1,789,000 after purchasing an additional 2,922 shares during the period. Institutional investors own 82.56% of the company’s stock.

Shares of NASDAQ:SBCF traded up $0.01 on Friday, hitting $29.94. The company had a trading volume of 197,595 shares, compared to its average volume of 239,732. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.38. Seacoast Banking Co. of Florida has a 52-week low of $20.58 and a 52-week high of $34.95. The company has a market capitalization of $1.41 billion, a P/E ratio of 19.95 and a beta of 0.62.

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 business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; and brokerage and annuity services.

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