Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock Has Average Price Target of $36.50 According to Brokerages

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have received an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $36.50.

Several equities research analysts have commented on the stock. Piper Sandler boosted their target price on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Raymond James Financial lowered their price target on shares of Seacoast Banking Corporation of Florida from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Seacoast Banking Corporation of Florida in a report on Friday, September 25th.

Insider Transactions at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, Director Dennis Hudson, III sold 12,000 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $34.15, for a total transaction of $409,800.00. Following the transaction, the director directly owned 206,869 shares in the company, valued at approximately $7,064,576.35. This represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Juliette Kleffel sold 14,831 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $34.31, for a total transaction of $508,851.61. Following the completion of the transaction, the executive vice president directly owned 78,321 shares of the company’s stock, valued at approximately $2,687,193.51. This trade represents a 15.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Seacoast Banking Corporation of Florida by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,150,592 shares of the financial services provider’s stock worth $95,427,000 after purchasing an additional 123,273 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in Seacoast Banking Corporation of Florida by 0.6% during the first quarter. Deprince Race & Zollo Inc. now owns 2,237,739 shares of the financial services provider’s stock worth $67,781,000 after purchasing an additional 13,304 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Seacoast Banking Corporation of Florida in the second quarter valued at $23,407,000. Emerald Advisers LLC grew its holdings in Seacoast Banking Corporation of Florida by 163.2% in the first quarter. Emerald Advisers LLC now owns 504,363 shares of the financial services provider’s stock valued at $15,277,000 after purchasing an additional 312,712 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Seacoast Banking Corporation of Florida by 2.0% in the first quarter. Principal Financial Group Inc. now owns 470,731 shares of the financial services provider’s stock valued at $14,258,000 after purchasing an additional 9,454 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Stock Up 2.7%

Seacoast Banking Corporation of Florida stock opened at $33.65 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.78 and a quick ratio of 0.78. Seacoast Banking Corporation of Florida has a 1-year low of $28.69 and a 1-year high of $36.27. The company has a market cap of $3.26 billion, a PE ratio of 14.96 and a beta of 0.90. The stock’s 50 day moving average price is $33.44 and its 200 day moving average price is $32.60.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $210.00 million for the quarter, compared to analyst estimates of $209.84 million. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%. On average, sell-side analysts predict that Seacoast Banking Corporation of Florida will post 2.55 EPS for the current fiscal year.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is a bank holding company headquartered in Stuart, Florida. It operates primarily through Seacoast National Bank, which provides banking and financial services to individuals, businesses and institutions across Florida.

The company offers checking and savings accounts, certificates of deposit, commercial and residential real estate loans, consumer lending, business financing, treasury management and other deposit services. Through affiliated operations, Seacoast also provides wealth management, investment advisory and mortgage-related services.

Seacoast National Bank traces its roots to 1926 and has expanded its presence throughout Florida, including the Treasure Coast, Central Florida and South Florida.