Brokerages Set Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Price Target at $31.50

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $31.50.

SBCF has been the topic of several research reports. Raymond James Financial set a $33.00 price target on shares of Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In related news, Director Dennis S. Hudson III sold 8,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $31.13, for a total value of $249,040.00. Following the completion of the sale, the director owned 251,275 shares of the company’s stock, valued at approximately $7,822,190.75. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Institutional investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Seacoast Banking Corporation of Florida by 3.9% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 9,274 shares of the financial services provider’s stock valued at $282,000 after buying an additional 344 shares during the period. Jones Financial Companies Lllp raised its position in Seacoast Banking Corporation of Florida by 69.7% in the third quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 352 shares during the period. GAMMA Investing LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 21.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 366 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Seacoast Banking Corporation of Florida by 2.2% in the 2nd quarter. Truist Financial Corp now owns 17,208 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 373 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Seacoast Banking Corporation of Florida by 24.0% during the 2nd quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 375 shares during the period. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Price Performance

Shares of Seacoast Banking Corporation of Florida stock opened at $32.30 on Friday. The stock has a market capitalization of $3.16 billion, a P/E ratio of 19.11 and a beta of 0.95. The business has a 50 day simple moving average of $31.29 and a two-hundred day simple moving average of $29.92. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $33.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%.The firm had revenue of $83.85 million during the quarter. As a group, analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.19 dividend. This is a boost from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 44.97%.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.