Seacoast Banking Co. of Florida (SBCF) Receives $30.17 Average Price Target from Brokerages

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have been given a consensus rating of “Hold” by the eight research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $30.17.

SBCF has been the subject of a number of recent research reports. Hovde Group lowered Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 2nd. BidaskClub lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Finally, Zacks Investment Research lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Friday, November 23rd.

SBCF stock opened at $29.06 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. Seacoast Banking Co. of Florida has a 1 year low of $21.74 and a 1 year high of $34.95. The stock has a market capitalization of $1.49 billion, a PE ratio of 17.94 and a beta of 0.74.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, January 24th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. Seacoast Banking Co. of Florida had a return on equity of 10.49% and a net margin of 23.08%. The business had revenue of $72.70 million during the quarter, compared to analyst estimates of $72.01 million. During the same quarter last year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities analysts predict that Seacoast Banking Co. of Florida will post 1.98 earnings per share for the current year.

In related news, CEO Dennis S. Hudson III sold 8,000 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $29.31, for a total value of $234,480.00. Following the completion of the transaction, the chief executive officer now owns 35,839 shares of the company’s stock, valued at $1,050,441.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David D. Houdeshell sold 5,000 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $29.15, for a total value of $145,750.00. Following the completion of the transaction, the executive vice president now directly owns 18,197 shares of the company’s stock, valued at approximately $530,442.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,226 shares of company stock valued at $637,843. Insiders own 3.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can boosted its holdings in Seacoast Banking Co. of Florida by 16.0% in the fourth quarter. Bank of Montreal Can now owns 3,120 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 431 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Seacoast Banking Co. of Florida by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 17,306 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 674 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Seacoast Banking Co. of Florida by 35.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,723 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 716 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Seacoast Banking Co. of Florida by 5.5% in the fourth quarter. New York State Teachers Retirement System now owns 21,284 shares of the financial services provider’s stock valued at $554,000 after purchasing an additional 1,104 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. boosted its holdings in Seacoast Banking Co. of Florida by 11.7% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 12,108 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 1,271 shares during the last quarter. 89.60% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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