Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Consensus Rating of “Moderate Buy” by Brokerages

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has received an average rating of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $35.00.

Several analysts have recently weighed in on SBCF shares. Piper Sandler boosted their price objective on shares of Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, June 22nd. Weiss Ratings upgraded shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd.

Seacoast Banking Corporation of Florida Trading Up 0.0%

NASDAQ:SBCF opened at $32.98 on Wednesday. Seacoast Banking Corporation of Florida has a 12-month low of $27.22 and a 12-month high of $35.55. The firm has a market cap of $3.21 billion, a PE ratio of 21.70 and a beta of 0.85. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $31.29 and a 200 day moving average price of $31.82.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $205.10 million for the quarter, compared to analyst estimates of $205.51 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The company’s revenue was up 45.8% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. Sell-side analysts anticipate that Seacoast Banking Corporation of Florida will post 2.51 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.19 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. Seacoast Banking Corporation of Florida’s payout ratio is currently 50.00%.

Insider Transactions at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, CEO Charles M. Shaffer sold 10,367 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $30.88, for a total value of $320,132.96. Following the transaction, the chief executive officer directly owned 174,113 shares of the company’s stock, valued at approximately $5,376,609.44. The trade was a 5.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis S. Hudson III sold 4,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $34.00, for a total transaction of $136,000.00. Following the transaction, the director owned 216,854 shares of the company’s stock, valued at approximately $7,373,036. The trade was a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 29,919 shares of company stock worth $942,733. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Institutional investors and hedge funds have recently made changes to their positions in the stock. World Investment Advisors grew its stake in Seacoast Banking Corporation of Florida by 3.6% during the fourth quarter. World Investment Advisors now owns 9,036 shares of the financial services provider’s stock worth $274,000 after buying an additional 316 shares during the last quarter. CWM LLC raised its stake in shares of Seacoast Banking Corporation of Florida by 3.0% in the fourth quarter. CWM LLC now owns 11,083 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 320 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 59.3% in the 4th quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 356 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Seacoast Banking Corporation of Florida by 1.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 45,543 shares of the financial services provider’s stock worth $1,431,000 after acquiring an additional 471 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Seacoast Banking Corporation of Florida by 4.2% during the 2nd quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 513 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

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.