Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $24.67.

A number of research firms have recently weighed in on SBCF. BidaskClub downgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Zacks Investment Research downgraded shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, FBR & Co restated a “buy” rating and issued a $27.00 price target on shares of Seacoast Banking Corporation of Florida in a research note on Tuesday, September 5th.

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Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) traded down 0.74% during trading on Wednesday, hitting $24.07. 183,540 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $22.70 and its 200-day moving average price is $23.48. The stock has a market cap of $1.03 billion, a PE ratio of 26.77 and a beta of 0.76. Seacoast Banking Corporation of Florida has a 1-year low of $16.09 and a 1-year high of $25.88.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. The firm had revenue of $54.60 million for 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 business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. On average, equities analysts expect that Seacoast Banking Corporation of Florida will post $1.23 earnings per share for the current fiscal year.

In other news, Director Roger Goldman sold 2,200 shares of the firm’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 sale, the director now directly owns 20,072 shares in the company, valued at approximately $483,935.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC raised its holdings in Seacoast Banking Corporation of Florida by 44.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,004,387 shares of the financial services provider’s stock valued at $24,206,000 after buying an additional 308,644 shares during the last quarter. Beaton Management Co. Inc. bought a new position in Seacoast Banking Corporation of Florida in the 2nd quarter valued at approximately $463,000. Susquehanna International Group LLP raised its holdings in Seacoast Banking Corporation of Florida by 123.0% in the 2nd quarter. Susquehanna International Group LLP now owns 63,854 shares of the financial services provider’s stock valued at $1,539,000 after buying an additional 35,216 shares during the last quarter. California State Teachers Retirement System raised its holdings in Seacoast Banking Corporation of Florida by 12.9% in the 2nd quarter. California State Teachers Retirement System now owns 70,808 shares of the financial services provider’s stock valued at $1,706,000 after buying an additional 8,100 shares during the last quarter. Finally, Highlander Capital Management LLC raised its holdings in Seacoast Banking Corporation of Florida by 10.2% in the 2nd quarter. Highlander Capital Management LLC now owns 32,375 shares of the financial services provider’s stock valued at $799,000 after buying an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 77.46% of the company’s stock.

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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