Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have been given a consensus rating of “Moderate Buy” by the four analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $29.88.

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Truist Financial lifted their price target on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Hovde Group downgraded Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $29.00 to $31.00 in a report on Monday, July 29th.

Insider Activity

In other Seacoast Banking Co. of Florida 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 transaction of $432,000.00. Following the completion of the sale, the director now directly owns 234,312 shares in the company, valued at $6,326,424. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBCF. Westwood Holdings Group Inc. grew its holdings in shares of Seacoast Banking Co. of Florida by 15.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 3,121,900 shares of the financial services provider’s stock worth $79,265,000 after purchasing an additional 414,037 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Seacoast Banking Co. of Florida in the 4th quarter valued at $10,179,000. F M Investments LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at $7,601,000. Vanguard Group Inc. lifted its holdings in shares of Seacoast Banking Co. of Florida by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock worth $159,578,000 after acquiring an additional 254,887 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of Seacoast Banking Co. of Florida by 24.0% during the 1st quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock valued at $29,710,000 after acquiring an additional 226,132 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Performance

SBCF stock opened at $26.65 on Thursday. The firm has a 50 day simple moving average of $26.72 and a 200 day simple moving average of $24.85. Seacoast Banking Co. of Florida has a 52 week low of $19.04 and a 52 week high of $29.98. The stock has a market cap of $2.26 billion, a P/E ratio of 19.04 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Seacoast Banking Co. of Florida had a net margin of 14.84% and a return on equity of 5.58%. The company had revenue of $201.99 million during the quarter, compared to the consensus estimate of $126.00 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Research analysts anticipate that Seacoast Banking Co. of Florida will post 1.43 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.18 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.72 annualized dividend and a yield of 2.70%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is currently 51.43%.

Seacoast Banking Co. of Florida Company Profile

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.