Seacoast Banking Co. of Florida (SBCF) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other analysts also recently issued reports on SBCF. Zacks Investment Research raised Seacoast Banking Co. of Florida from a hold rating to a buy rating and set a $29.00 price target on the stock in a report on Saturday, December 30th. Hovde Group set a $27.00 target price on Seacoast Banking Co. of Florida and gave the company a hold rating in a research note on Wednesday, January 3rd. Sandler O’Neill set a $27.00 target price on Seacoast Banking Co. of Florida and gave the company a hold rating in a research note on Thursday, January 4th. B. Riley reaffirmed a buy rating and set a $30.00 target price on shares of Seacoast Banking Co. of Florida in a research note on Friday, January 26th. Finally, BidaskClub downgraded Seacoast Banking Co. of Florida from a hold rating to a sell rating in a research note on Friday, January 26th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $29.00.

Shares of NASDAQ SBCF opened at $27.61 on Friday. The company has a market capitalization of $1,297.17, a P/E ratio of 21.74 and a beta of 0.65. Seacoast Banking Co. of Florida has a 12-month low of $20.58 and a 12-month high of $28.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.81 and a current ratio of 0.82.

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

In other Seacoast Banking Co. of Florida news, Director Roger Goldman sold 6,407 shares of Seacoast Banking Co. of Florida 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 sale, the director now owns 23,572 shares of the company’s stock, valued at approximately $646,108.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the 3rd quarter valued at $211,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at $222,000. Navellier & Associates Inc acquired a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at $261,000. Teacher Retirement System of Texas acquired a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at $312,000. Finally, OxFORD Asset Management LLP acquired a new position in shares of Seacoast Banking Co. of Florida during the 3rd quarter valued at $331,000. 75.98% of the stock is currently owned by hedge funds and other institutional investors.

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Seacoast Banking Co. of Florida Company Profile

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.

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

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