Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives $26.30 Average PT from Analysts

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCFGet Free Report) have earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $26.30.

SBCF has been the subject of several research analyst reports. Truist Financial decreased their price objective on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Hovde Group reduced their target price on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, Keefe, Bruyette & Woods raised shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and upped their target price for the company from $26.00 to $27.00 in a report on Friday, May 31st.

View Our Latest Report on SBCF

Insider Buying and Selling

In related news, EVP James C. Stallings III sold 3,855 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $24.44, for a total transaction of $94,216.20. Following the completion of the transaction, the executive vice president now directly owns 3,961 shares of the company’s stock, valued at $96,806.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SBCF. GAMMA Investing LLC purchased a new position in Seacoast Banking Co. of Florida during the fourth quarter worth about $25,000. Good Life Advisors LLC purchased a new position in Seacoast Banking Co. of Florida during the fourth quarter worth about $205,000. Janney Montgomery Scott LLC grew 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 worth $206,000 after buying an additional 460 shares during the period. Xcel Wealth Management LLC acquired a new position in Seacoast Banking Co. of Florida during the fourth quarter worth about $238,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Seacoast Banking Co. of Florida during the third quarter worth about $242,000. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ SBCF opened at $22.99 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a 1 year low of $19.04 and a 1 year high of $29.98. The company has a market capitalization of $1.95 billion, a PE ratio of 16.42 and a beta of 1.12. The company has a fifty day moving average of $23.29 and a two-hundred day moving average of $24.76.

Seacoast Banking Co. of Florida (NASDAQ:SBCFGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.03). Seacoast Banking Co. of Florida had a net margin of 15.08% and a return on equity of 5.68%. The company had revenue of $125.58 million during the quarter, compared to analyst estimates of $127.95 million. As a group, analysts expect that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.13%. Seacoast Banking Co. of Florida’s payout ratio is 51.43%.

Seacoast Banking Co. of Florida Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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