FY2018 EPS Estimates for Seacoast Banking Co. of Florida Decreased by SunTrust Banks (SBCF)

Seacoast Banking Co. of Florida (NASDAQ:SBCF) – Equities research analysts at SunTrust Banks reduced their FY2018 earnings estimates for shares of Seacoast Banking Co. of Florida in a research report issued on Monday, October 29th. SunTrust Banks analyst M. Young now forecasts that the financial services provider will earn $1.54 per share for the year, down from their prior forecast of $1.60. SunTrust Banks also issued estimates for Seacoast Banking Co. of Florida’s Q4 2018 earnings at $0.45 EPS, Q1 2019 earnings at $0.49 EPS, Q2 2019 earnings at $0.51 EPS, Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.54 EPS, FY2019 earnings at $2.07 EPS and FY2020 earnings at $2.32 EPS.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, October 25th. The financial services provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.07). Seacoast Banking Co. of Florida had a net margin of 22.30% and a return on equity of 10.20%. The company had revenue of $63.85 million for the quarter, compared to the consensus estimate of $65.27 million.

Several other equities analysts have also weighed in on the company. B. Riley set a $32.00 target price on Seacoast Banking Co. of Florida and gave the company a “buy” rating in a report on Monday. BidaskClub lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Saturday, September 29th. Zacks Investment Research upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Friday, September 28th. ValuEngine lowered Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. Finally, Sandler O’Neill set a $31.00 price objective on Seacoast Banking Co. of Florida and gave the stock a “hold” rating in a research note on Saturday, July 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Seacoast Banking Co. of Florida currently has an average rating of “Hold” and a consensus target price of $32.60.

NASDAQ SBCF opened at $26.31 on Wednesday. Seacoast Banking Co. of Florida has a fifty-two week low of $21.74 and a fifty-two week high of $34.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 20.55 and a beta of 0.54.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Seacoast Banking Co. of Florida by 5.0% in the second quarter. BlackRock Inc. now owns 6,600,383 shares of the financial services provider’s stock worth $208,440,000 after purchasing an additional 315,105 shares during the period. Dimensional Fund Advisors LP grew its position in Seacoast Banking Co. of Florida by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,512,571 shares of the financial services provider’s stock worth $47,768,000 after buying an additional 15,536 shares in the last quarter. Allianz Asset Management GmbH grew its position in Seacoast Banking Co. of Florida by 7.3% during the first quarter. Allianz Asset Management GmbH now owns 652,136 shares of the financial services provider’s stock worth $17,262,000 after buying an additional 44,370 shares in the last quarter. Waddell & Reed Financial Inc. acquired a new stake in Seacoast Banking Co. of Florida during the second quarter worth about $18,169,000. Finally, Northern Trust Corp grew its position in Seacoast Banking Co. of Florida by 11.5% during the second quarter. Northern Trust Corp now owns 541,686 shares of the financial services provider’s stock worth $17,107,000 after buying an additional 55,669 shares in the last quarter. Institutional investors and hedge funds own 84.16% of the company’s stock.

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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