Seacoast Banking Co. of Florida (SBCF) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) from a sell rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “Seacoast Banking Corp of Florida is a bank holding company. Seacoast and its subsidiaries offer a full array of deposit accounts and retail banking services, engages in consumer and commercial lending and provides a wide variety of trust and asset management services, as well as securities and annuity products. “

How to Become a New Pot Stock Millionaire

A number of other research analysts also recently commented on SBCF. BidaskClub downgraded Seacoast Banking Co. of Florida from a buy rating to a hold rating in a research note on Tuesday, December 12th. Hovde Group set a $27.00 price objective on Seacoast Banking Co. of Florida and gave the stock a hold rating in a research note on Wednesday, January 3rd. Sandler O’Neill set a $27.00 price objective on Seacoast Banking Co. of Florida and gave the stock a hold rating in a research note on Thursday, January 4th. B. Riley restated a buy rating and set a $30.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Friday, January 26th. Finally, Guggenheim restated a hold rating and set a $28.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Seacoast Banking Co. of Florida currently has an average rating of Buy and an average target price of $29.00.

Shares of NASDAQ SBCF opened at $26.47 on Tuesday. Seacoast Banking Co. of Florida has a twelve month low of $20.58 and a twelve month high of $28.44. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1,276.16, a PE ratio of 21.42 and a beta of 0.65.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. Seacoast Banking Co. of Florida had a return on equity of 9.36% and a net margin of 17.14%. The business had revenue of $74.87 million during the quarter, compared to the consensus estimate of $67.93 million. During the same period in the previous year, the business earned $0.30 EPS. The business’s quarterly revenue was up 58.1% on a year-over-year basis. equities analysts forecast that Seacoast Banking Co. of Florida will post 1.77 EPS for the current year.

In related news, Director Roger Goldman sold 6,407 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $27.41, for a total transaction of $175,615.87. Following the completion of the transaction, the director now directly owns 23,572 shares in the company, valued at approximately $646,108.52. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in SBCF. BNP Paribas Arbitrage SA boosted its position in Seacoast Banking Co. of Florida by 58.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,776 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 2,498 shares during the period. Magnetar Financial LLC acquired a new position in Seacoast Banking Co. of Florida during the 3rd quarter worth $203,000. SG Americas Securities LLC acquired a new position in Seacoast Banking Co. of Florida during the 3rd quarter worth $211,000. Arrowstreet Capital Limited Partnership acquired a new position in Seacoast Banking Co. of Florida during the 4th quarter worth $222,000. Finally, Navellier & Associates Inc acquired a new position in Seacoast Banking Co. of Florida during the 4th quarter worth $261,000. Institutional investors own 76.10% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Seacoast Banking Co. of Florida (SBCF) Upgraded by Zacks Investment Research to Hold” was reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3337807/seacoast-banking-co-of-florida-sbcf-upgraded-by-zacks-investment-research-to-hold.html.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; and brokerage and annuity services.

Get a free copy of the Zacks research report on Seacoast Banking Co. of Florida (SBCF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Receive News & Ratings for Seacoast Banking Co. of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Co. of Florida and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Critical Review: Codexis  & FutureFuel
Critical Review: Codexis & FutureFuel
Reviewing iRobot  and SodaStream
Reviewing iRobot and SodaStream
Bitauto Hldg Ltd  Given Consensus Recommendation of “Hold” by Brokerages
Bitauto Hldg Ltd Given Consensus Recommendation of “Hold” by Brokerages
Eldorado Gold Corp  Receives Consensus Recommendation of “Hold” from Brokerages
Eldorado Gold Corp Receives Consensus Recommendation of “Hold” from Brokerages
Analysts Anticipate Sogou  to Announce $0.05 EPS
Analysts Anticipate Sogou to Announce $0.05 EPS
AK Steel  versus Its Peers Head-To-Head Contrast
AK Steel versus Its Peers Head-To-Head Contrast


© 2006-2018 Ticker Report. Google+.