Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have been given an average recommendation of “Buy” by the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.33.

Several equities research analysts recently commented on SBCF shares. Zacks Investment Research downgraded shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. FIG Partners upgraded shares of Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a research report on Friday, May 19th. Finally, BidaskClub downgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th.

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In other Seacoast Banking Corporation of Florida news, Director Roger Goldman sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $24.11, for a total value of $53,042.00. Following the transaction, the director now owns 20,072 shares in the company, valued at approximately $483,935.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in Seacoast Banking Corporation of Florida during the first quarter valued at $37,908,000. William Blair Investment Management LLC bought a new position in Seacoast Banking Corporation of Florida during the second quarter valued at $19,215,000. Mendon Capital Advisors Corp raised its position in Seacoast Banking Corporation of Florida by 141.0% in the first quarter. Mendon Capital Advisors Corp now owns 1,306,346 shares of the financial services provider’s stock valued at $31,326,000 after buying an additional 764,260 shares in the last quarter. Jennison Associates LLC bought a new position in Seacoast Banking Corporation of Florida during the first quarter valued at $17,287,000. Finally, State Street Corp raised its position in Seacoast Banking Corporation of Florida by 97.4% in the first quarter. State Street Corp now owns 962,034 shares of the financial services provider’s stock valued at $23,071,000 after buying an additional 474,704 shares in the last quarter. Hedge funds and other institutional investors own 74.02% of the company’s stock.

Seacoast Banking Corporation of Florida (SBCF) traded down 0.22% during mid-day trading on Tuesday, reaching $23.04. 137,199 shares of the company’s stock traded hands. The company has a market capitalization of $987.06 million, a price-to-earnings ratio of 25.63 and a beta of 0.77. Seacoast Banking Corporation of Florida has a 52-week low of $15.85 and a 52-week high of $25.88. The company has a 50-day moving average of $23.77 and a 200-day moving average of $23.65.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The business had revenue of $54.60 million during the quarter, compared to the consensus estimate of $53.90 million. Seacoast Banking Corporation of Florida had a net margin of 17.09% and a return on equity of 9.20%. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. Equities research analysts expect that Seacoast Banking Corporation of Florida will post $1.23 EPS for the current year.

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.

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

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