Wall Street analysts forecast that Seacoast Banking Corporation of Florida (NASDAQ:SBCF) will report sales of $55.60 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Seacoast Banking Corporation of Florida’s earnings. The lowest sales estimate is $52.20 million and the highest is $57.80 million. Seacoast Banking Corporation of Florida posted sales of $47.44 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.2%. The firm is expected to report its next quarterly earnings results on Wednesday, October 25th.

On average, analysts expect that Seacoast Banking Corporation of Florida will report full year sales of $55.60 million for the current year, with estimates ranging from $203.70 million to $251.76 million. For the next fiscal year, analysts forecast that the business will post sales of $261.66 million per share, with estimates ranging from $245.20 million to $275.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Seacoast Banking Corporation of Florida.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The company 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 revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share.

A number of analysts have weighed in on SBCF shares. BidaskClub upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, FIG Partners raised shares of Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a report on Friday, May 19th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Seacoast Banking Corporation of Florida currently has an average rating of “Buy” and an average price target of $22.60.

In other news, Director Roger Goldman sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $24.11, for a total transaction of $53,042.00. Following the sale, the director now owns 20,072 shares of the company’s stock, valued at approximately $483,935.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. US Bancorp DE increased its stake in shares of 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 worth $100,000 after buying an additional 20 shares during the last quarter. BNP Paribas Arbitrage SA increased 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 worth $103,000 after buying an additional 4,148 shares during the last quarter. Globeflex Capital L P acquired a new position in Seacoast Banking Corporation of Florida during the first quarter worth about $116,000. Raymond James Financial Services Advisors Inc. acquired a new position in Seacoast Banking Corporation of Florida during the first quarter worth about $200,000. Finally, SG Americas Securities LLC acquired a new position in Seacoast Banking Corporation of Florida during the first quarter worth about $209,000. 74.02% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at 22.40 on Friday. Seacoast Banking Corporation of Florida has a 52-week low of $15.85 and a 52-week high of $25.88. The stock’s 50 day moving average is $23.68 and its 200 day moving average is $23.65. The company has a market capitalization of $959.64 million, a P/E ratio of 24.92 and a beta of 0.77.

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.

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

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