Analysts forecast that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will post sales of $65.29 million for the current quarter, according to Zacks. Four analysts have issued estimates for Seacoast Banking Co. of Florida’s earnings, with the lowest sales estimate coming in at $64.75 million and the highest estimate coming in at $65.70 million. Seacoast Banking Co. of Florida posted sales of $57.18 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.2%. The company is scheduled to report its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that Seacoast Banking Co. of Florida will report full-year sales of $262.64 million for the current year, with estimates ranging from $260.00 million to $265.30 million. For the next fiscal year, analysts expect that the business will post sales of $318.32 million per share, with estimates ranging from $308.90 million to $325.60 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 26th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.05). Seacoast Banking Co. of Florida had a return on equity of 10.36% and a net margin of 22.34%. The business had revenue of $62.98 million for the quarter, compared to the consensus estimate of $64.78 million. During the same quarter last year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year.

SBCF has been the subject of a number of research reports. Sandler O’Neill downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a report on Thursday, May 31st. BidaskClub downgraded Seacoast Banking Co. of Florida from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. Hovde Group increased their price objective on Seacoast Banking Co. of Florida from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, June 15th. B. Riley dropped their price objective on Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 31st. Finally, Raymond James downgraded Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 29th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.17.

Shares of SBCF stock traded up $0.01 during trading hours on Tuesday, reaching $29.94. 197,595 shares of the company’s stock were exchanged, compared to its average volume of 239,732. Seacoast Banking Co. of Florida has a 1 year low of $20.58 and a 1 year high of $34.95. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 19.95 and a beta of 0.62. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 0.84.

In other news, EVP Charles K. Jr. Cross sold 1,754 shares of the stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $29.50, for a total transaction of $51,743.00. Following the completion of the sale, the executive vice president now owns 16,681 shares in the company, valued at approximately $492,089.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger Goldman sold 1,260 shares of the stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $31.25, for a total value of $39,375.00. Following the completion of the sale, the director now owns 12,815 shares of the company’s stock, valued at approximately $400,468.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,014 shares of company stock valued at $150,618. 3.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBCF. Gratus Capital LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the first quarter valued at about $207,000. Cornerstone Wealth Management LLC bought a new position in Seacoast Banking Co. of Florida during the second quarter worth about $212,000. Amalgamated Bank bought a new position in Seacoast Banking Co. of Florida during the second quarter worth about $216,000. Aperio Group LLC bought a new position in Seacoast Banking Co. of Florida during the second quarter worth about $221,000. Finally, United Services Automobile Association bought a new position in Seacoast Banking Co. of Florida during the second quarter worth about $232,000. Institutional investors own 82.56% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

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.

See Also: Trading Penny Stocks

Get a free copy of the Zacks research report on Seacoast Banking Co. of Florida (SBCF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Receive News & Ratings for Seacoast Banking Co. of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Co. of Florida and related companies with MarketBeat.com's FREE daily email newsletter.