Wall Street brokerages forecast that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will announce sales of $72.25 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Seacoast Banking Co. of Florida’s earnings. The highest sales estimate is $73.00 million and the lowest is $71.59 million. Seacoast Banking Co. of Florida reported sales of $74.87 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.5%. The company is scheduled to report its next quarterly earnings results on Thursday, January 24th.

On average, analysts expect that Seacoast Banking Co. of Florida will report full-year sales of $261.21 million for the current financial year, with estimates ranging from $260.60 million to $262.10 million. For the next year, analysts anticipate that the firm will post sales of $309.12 million, with estimates ranging from $302.30 million to $313.00 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.07). The company had revenue of $63.85 million during the quarter, compared to analysts’ expectations of $65.27 million. Seacoast Banking Co. of Florida had a net margin of 22.30% and a return on equity of 10.20%.

Several equities analysts have recently weighed in on SBCF shares. Zacks Investment Research cut Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Friday, November 23rd. BidaskClub cut Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. ValuEngine upgraded Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. B. Riley set a $32.00 price target on Seacoast Banking Co. of Florida and gave the company a “buy” rating in a research report on Monday, October 29th. Finally, Raymond James upgraded Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 15th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.60.

Institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC purchased a new position in Seacoast Banking Co. of Florida during the third quarter worth about $150,000. Cornerstone Wealth Management LLC purchased a new position in Seacoast Banking Co. of Florida during the second quarter worth about $212,000. Amalgamated Bank purchased a new position in Seacoast Banking Co. of Florida during the second quarter worth about $216,000. Aperio Group LLC purchased a new position in Seacoast Banking Co. of Florida during the second quarter worth about $221,000. Finally, United Services Automobile Association purchased a new position in Seacoast Banking Co. of Florida during the second quarter worth about $232,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Shares of NASDAQ SBCF traded down $0.05 during mid-day trading on Friday, hitting $27.45. The company had a trading volume of 295,824 shares, compared to its average volume of 330,457. The stock has a market cap of $1.30 billion, a PE ratio of 21.45 and a beta of 0.68. Seacoast Banking Co. of Florida has a 1 year low of $21.74 and a 1 year high of $34.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

About Seacoast Banking Co. of Florida

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: Debt-To-Equity Ratio

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

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