Seacoast Banking Co. of Florida (NASDAQ:SBCF) Given New $26.00 Price Target at Stephens

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its target price boosted by Stephens from $25.00 to $26.00 in a research note issued to investors on Monday morning, Benzinga reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

A number of other research firms have also weighed in on SBCF. Hovde Group lowered shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $29.00 to $31.00 in a research note on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Finally, Truist Financial reduced their price target 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and an average price target of $28.70.

Seacoast Banking Co. of Florida Trading Down 2.3 %

NASDAQ:SBCF opened at $26.70 on Monday. The company has a 50-day moving average price of $26.82 and a 200-day moving average price of $25.22. Seacoast Banking Co. of Florida has a 12 month low of $19.90 and a 12 month high of $29.98. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 19.35 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. Seacoast Banking Co. of Florida’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS. Equities analysts predict that Seacoast Banking Co. of Florida will post 1.43 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 52.17%.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Seacoast Banking Co. of Florida by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider’s stock valued at $171,619,000 after acquiring an additional 206,002 shares during the last quarter. BNP Paribas Financial Markets increased its position in Seacoast Banking Co. of Florida by 64.4% during the first quarter. BNP Paribas Financial Markets now owns 42,118 shares of the financial services provider’s stock valued at $1,069,000 after acquiring an additional 16,493 shares during the last quarter. Janney Montgomery Scott LLC increased its position in 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 acquiring an additional 460 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Seacoast Banking Co. of Florida during the first quarter valued at $348,000. Finally, GSA Capital Partners LLP bought a new position in Seacoast Banking Co. of Florida during the first quarter valued at $1,325,000. Institutional investors own 81.77% 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 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.