Brokerages Set Seacoast Banking Corporation of Florida (NASDAQ:SBCF) PT at $31.90

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have earned an average rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $31.90.

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Finally, Zacks Research downgraded shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th.

Seacoast Banking Corporation of Florida Stock Performance

Seacoast Banking Corporation of Florida stock opened at $31.25 on Friday. The business has a 50 day moving average of $31.34 and a 200-day moving average of $31.76. Seacoast Banking Corporation of Florida has a 1 year low of $22.22 and a 1 year high of $35.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $3.05 billion, a P/E ratio of 19.53 and a beta of 0.91.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The firm had revenue of $204.80 million during the quarter, compared to analyst estimates of $201.25 million. During the same period in the prior year, the company earned $0.48 EPS. The business’s quarterly revenue was up 53.0% compared to the same quarter last year. On average, equities research analysts predict that Seacoast Banking Corporation of Florida will post 2.53 earnings per share for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, June 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 47.50%.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In other news, Director Joseph B. Shearouse III bought 4,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was acquired at an average price of $33.19 per share, with a total value of $132,760.00. Following the transaction, the director owned 35,500 shares of the company’s stock, valued at $1,178,245. This trade represents a 12.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maryann Goebel sold 3,419 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $34.23, for a total transaction of $117,032.37. Following the sale, the director directly owned 6,000 shares of the company’s stock, valued at $205,380. This represents a 36.30% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 29,752 shares of company stock worth $976,846. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Seacoast Banking Corporation of Florida

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 213.5% during the 3rd quarter. AlphaQuest LLC now owns 44,789 shares of the financial services provider’s stock worth $1,363,000 after buying an additional 30,502 shares in the last quarter. Global Trust Asset Management LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 22,887.6% during the 3rd quarter. Global Trust Asset Management LLC now owns 83,445 shares of the financial services provider’s stock worth $2,539,000 after buying an additional 83,082 shares in the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of Seacoast Banking Corporation of Florida by 7.2% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 2,148,243 shares of the financial services provider’s stock worth $65,371,000 after buying an additional 143,871 shares in the last quarter. Boothbay Fund Management LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 48.2% during the 3rd quarter. Boothbay Fund Management LLC now owns 187,879 shares of the financial services provider’s stock worth $5,717,000 after buying an additional 61,119 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 64.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 108,063 shares of the financial services provider’s stock worth $3,288,000 after buying an additional 42,405 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

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.