Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Seacoast Banking Co. of Florida (NASDAQ:SBCF) has received a consensus recommendation of “Moderate Buy” from the four research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $25.90.

Several equities research analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Monday. Raymond James upped their price objective on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Finally, Hovde Group cut their price target on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday.

Institutional Trading of Seacoast Banking Co. of Florida

A number of institutional investors and hedge funds have recently bought and sold shares of SBCF. SG Americas Securities LLC purchased a new position in shares of Seacoast Banking Co. of Florida in the 3rd quarter worth $859,000. Harbor Capital Advisors Inc. raised its holdings in Seacoast Banking Co. of Florida by 13.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 50,987 shares of the financial services provider’s stock valued at $1,120,000 after buying an additional 6,082 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Seacoast Banking Co. of Florida by 1.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 192,112 shares of the financial services provider’s stock valued at $4,219,000 after purchasing an additional 3,579 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 5.9% during the 3rd quarter. Brown Advisory Inc. now owns 375,428 shares of the financial services provider’s stock worth $8,244,000 after acquiring an additional 20,971 shares during the last quarter. Finally, Advisor Partners II LLC grew its holdings in shares of Seacoast Banking Co. of Florida by 29.7% in the third quarter. Advisor Partners II LLC now owns 29,865 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 6,837 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Up 0.3 %

Shares of Seacoast Banking Co. of Florida stock traded up $0.06 during midday trading on Monday, hitting $23.44. The company had a trading volume of 174,566 shares, compared to its average volume of 412,879. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50 day moving average of $24.02 and a 200 day moving average of $24.43. Seacoast Banking Co. of Florida has a 52-week low of $17.93 and a 52-week high of $29.98. The stock has a market capitalization of $1.99 billion, a P/E ratio of 16.72 and a beta of 1.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $128.16 million during the quarter, compared to analysts’ expectations of $135.33 million. Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. On average, equities analysts predict that Seacoast Banking Co. of Florida will post 1.47 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.07%. Seacoast Banking Co. of Florida’s payout ratio is 51.43%.

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.