Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives $29.88 Average PT from Brokerages

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have earned a consensus recommendation of “Moderate Buy” from the four analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $29.88.

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

Institutional Trading of Seacoast Banking Co. of Florida

A number of institutional investors and hedge funds have recently made changes to their positions in SBCF. GAMMA Investing LLC lifted its stake in Seacoast Banking Co. of Florida by 73.4% in the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 412 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Seacoast Banking Co. of Florida in the second quarter valued at $55,000. Algert Global LLC bought a new position in shares of Seacoast Banking Co. of Florida during the second quarter valued at about $202,000. Janney Montgomery Scott LLC lifted its position in shares of Seacoast Banking Co. of Florida by 6.0% during the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 460 shares in the last quarter. Finally, Xcel Wealth Management LLC purchased a new stake in Seacoast Banking Co. of Florida during the third quarter worth about $223,000. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ SBCF opened at $26.90 on Monday. Seacoast Banking Co. of Florida has a 1 year low of $19.04 and a 1 year high of $29.98. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 19.21 and a beta of 1.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50-day simple moving average is $26.72 and its 200-day simple moving average is $25.09.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The business had revenue of $201.99 million during the quarter, compared to the consensus estimate of $126.00 million. During the same period in the previous year, the firm posted $0.37 earnings per share. As a group, equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio 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.