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

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

SBCF has been the subject of several recent analyst reports. Raymond James boosted their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Hovde Group cut their price target on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Truist Financial dropped their price objective on Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Monday.

Seacoast Banking Co. of Florida Stock Up 0.3 %

Seacoast Banking Co. of Florida stock traded up $0.06 during mid-day trading on Monday, reaching $23.44. 174,566 shares of the company’s stock were exchanged, compared to its average volume of 412,879. The company has a fifty day moving average of $24.02 and a 200-day moving average of $24.43. The company has a market cap of $1.99 billion, a P/E ratio of 16.72 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. Seacoast Banking Co. of Florida has a twelve month low of $17.93 and a twelve month high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). 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 $128.16 million during the quarter, compared to analysts’ expectations of $135.33 million. Sell-side analysts expect that Seacoast Banking Co. of Florida will post 1.47 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

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

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter worth $25,000. First Horizon Advisors Inc. raised its holdings in Seacoast Banking Co. of Florida by 39.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider’s stock worth $40,000 after buying an additional 520 shares during the period. Good Life Advisors LLC purchased a new stake in Seacoast Banking Co. of Florida during the fourth quarter valued at about $205,000. Xcel Wealth Management LLC acquired a new position in Seacoast Banking Co. of Florida in the 4th quarter worth approximately $238,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Seacoast Banking Co. of Florida during the third quarter valued at $242,000. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Co. of Florida Company Profile

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.