Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – Equities research analysts at FIG Partners cut their Q4 2017 EPS estimates for shares of Seacoast Banking Corporation of Florida in a research report issued to clients and investors on Monday. FIG Partners analyst C. Marinac now expects that the financial services provider will post earnings of $0.35 per share for the quarter, down from their previous estimate of $0.36.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $57.10 million for the quarter, compared to analyst estimates of $57.55 million. Seacoast Banking Corporation of Florida had a return on equity of 9.78% and a net margin of 18.48%. The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS.

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Several other research firms have also issued reports on SBCF. Zacks Investment Research lowered Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday. FBR & Co restated a “buy” rating on shares of Seacoast Banking Corporation of Florida in a research note on Friday, October 27th. Finally, BidaskClub upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Seacoast Banking Corporation of Florida currently has an average rating of “Hold” and an average price target of $24.67.

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 stock was sold at an average price of $24.11, for a total value of $53,042.00. Following the sale, the director now owns 20,072 shares in the company, valued at $483,935.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC bought a new position in shares of Seacoast Banking Corporation of Florida during the second quarter worth approximately $19,215,000. State Street Corp increased its stake in shares of Seacoast Banking Corporation of Florida by 97.4% during the first quarter. State Street Corp now owns 962,034 shares of the financial services provider’s stock worth $23,071,000 after purchasing an additional 474,704 shares during the period. Vanguard Group Inc. increased its stake in shares of Seacoast Banking Corporation of Florida by 37.6% during the first quarter. Vanguard Group Inc. now owns 1,527,831 shares of the financial services provider’s stock worth $36,637,000 after purchasing an additional 417,334 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Seacoast Banking Corporation of Florida by 44.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,004,387 shares of the financial services provider’s stock worth $24,206,000 after purchasing an additional 308,644 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Seacoast Banking Corporation of Florida by 37.1% during the second quarter. Jennison Associates LLC now owns 988,008 shares of the financial services provider’s stock worth $23,811,000 after purchasing an additional 267,115 shares during the period. Hedge funds and other institutional investors own 77.51% 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.

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

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