Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has received an average recommendation of “Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $24.67.

SBCF has been the subject of several research reports. BidaskClub raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. FIG Partners raised Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a research note on Friday, May 19th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $27.00 target price on shares of Seacoast Banking Corporation of Florida in a research note on Tuesday.

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Seacoast Banking Corporation of Florida (NASDAQ SBCF) traded up 0.87% during midday trading on Friday, reaching $20.97. 323,534 shares of the company traded hands. Seacoast Banking Corporation of Florida has a one year low of $15.85 and a one year high of $25.88. The stock’s 50 day moving average is $23.02 and its 200 day moving average is $23.58. The company has a market capitalization of $898.38 million, a price-to-earnings ratio of 23.33 and a beta of 0.77.

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

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

Several large investors have recently added to or reduced their stakes in SBCF. Teachers Advisors LLC boosted its stake in shares of Seacoast Banking Corporation of Florida by 45.7% during the fourth quarter. Teachers Advisors LLC now owns 80,434 shares of the financial services provider’s stock valued at $1,774,000 after purchasing an additional 25,245 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Seacoast Banking Corporation of Florida by 4.8% during the first quarter. Nationwide Fund Advisors now owns 49,030 shares of the financial services provider’s stock valued at $1,176,000 after purchasing an additional 2,237 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at approximately $335,000. BB&T Corp purchased a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at approximately $469,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Seacoast Banking Corporation of Florida by 5.1% during the first quarter. Wells Fargo & Company MN now owns 28,202 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 1,374 shares during the period. 77.50% of the stock is 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.

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

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