Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – SunTrust Banks dropped their FY2017 earnings per share estimates for Seacoast Banking Corporation of Florida in a note issued to investors on Thursday. SunTrust Banks analyst M. Young now anticipates that the financial services provider will post earnings per share of $1.23 for the year, down from their prior estimate of $1.26.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.29. Seacoast Banking Corporation of Florida had a return on equity of 9.80% and a net margin of 17.09%. The business had revenue of $54.60 million during the quarter, compared to the consensus estimate of $53.90 million. During the same period last year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: This story was originally posted by American Banking News and is the property of of American Banking News. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/08/07/fy2017-eps-estimates-for-seacoast-banking-corporation-of-florida-lowered-by-suntrust-banks-sbcf.html.

Several other research firms have also recently issued reports on SBCF. Zacks Investment Research raised Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Wednesday, April 26th. BidaskClub raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, FIG Partners raised Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a report on Friday, May 19th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Seacoast Banking Corporation of Florida has an average rating of “Buy” and a consensus target price of $22.60.

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at 24.10 on Monday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 26.81 and a beta of 0.77. The firm has a 50-day moving average price of $24.03 and a 200-day moving average price of $23.52. Seacoast Banking Corporation of Florida has a 52-week low of $15.85 and a 52-week high of $25.88.

In other news, Director Roger Goldman sold 3,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $22.55, for a total transaction of $67,650.00. Following the transaction, the director now directly owns 20,072 shares of the company’s stock, valued at approximately $452,623.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in SBCF. US Bancorp DE boosted its position in Seacoast Banking Corporation of Florida by 0.5% in the second quarter. US Bancorp DE now owns 4,157 shares of the financial services provider’s stock valued at $100,000 after buying an additional 20 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Seacoast Banking Corporation of Florida by 3,190.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the financial services provider’s stock valued at $103,000 after buying an additional 4,148 shares during the last quarter. Globeflex Capital L P purchased a new position in Seacoast Banking Corporation of Florida during the first quarter valued at $116,000. Raymond James Financial Services Advisors Inc. purchased a new position in Seacoast Banking Corporation of Florida during the first quarter valued at $200,000. Finally, SG Americas Securities LLC purchased a new position in Seacoast Banking Corporation of Florida during the first quarter valued at $209,000. 71.74% of the stock is currently owned by hedge funds and other institutional investors.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

Earnings History and Estimates for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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