Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives $29.40 Consensus Target Price from Analysts

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have been given a consensus recommendation of “Hold” by the five analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $29.40.

SBCF has been the subject of several recent analyst reports. Stephens raised their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Truist Financial lowered their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, October 28th. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Raymond James reiterated an “outperform” rating and set a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday.

Seacoast Banking Co. of Florida Stock Up 0.5 %

Shares of NASDAQ SBCF opened at $28.45 on Wednesday. The business has a 50-day moving average of $28.01 and a two-hundred day moving average of $27.47. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 19.90 and a beta of 1.09. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year high of $31.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. On average, analysts forecast that Seacoast Banking Co. of Florida will post 1.59 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.18 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.53%. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 50.35%.

Insider Activity

In related news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the sale, the chief executive officer now directly owns 126,232 shares in the company, valued at $3,832,403.52. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 83.2% in the second quarter. Renaissance Technologies LLC now owns 78,605 shares of the financial services provider’s stock valued at $1,858,000 after buying an additional 35,700 shares during the period. Sei Investments Co. lifted its stake in Seacoast Banking Co. of Florida by 36.7% in the 2nd quarter. Sei Investments Co. now owns 281,601 shares of the financial services provider’s stock worth $6,657,000 after acquiring an additional 75,605 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the second quarter worth approximately $334,000. The Manufacturers Life Insurance Company increased its stake in shares of Seacoast Banking Co. of Florida by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 47,424 shares of the financial services provider’s stock worth $1,121,000 after acquiring an additional 1,317 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the 2nd quarter worth about $202,000. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.