Seacoast Banking Corporation of Florida (NASDAQ:SBCF) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

SBCF has been the subject of several other research reports. FBR & Co restated a “buy” rating and set a $27.00 price target on shares of Seacoast Banking Corporation of Florida in a research report on Tuesday, September 5th. Zacks Investment Research lowered shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Seacoast Banking Corporation of Florida currently has an average rating of “Hold” and an average target price of $26.00.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) traded down $0.42 on Tuesday, reaching $25.31. 144,700 shares of the company traded hands, compared to its average volume of 279,216. The company has a market capitalization of $1,119.57, a price-to-earnings ratio of 21.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.82 and a current ratio of 0.83. Seacoast Banking Corporation of Florida has a one year low of $20.58 and a one year high of $27.13.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $57.10 million during the quarter, compared to analyst estimates of $57.55 million. Seacoast Banking Corporation of Florida had a net margin of 18.48% and a return on equity of 9.37%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. equities analysts predict that Seacoast Banking Corporation of Florida will post 1.24 EPS for the current year.

In other Seacoast Banking Corporation of Florida news, CEO Dennis S. Hudson III sold 2,300 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $24.22, for a total transaction of $55,706.00. Following the completion of the transaction, the chief executive officer now owns 19,247 shares in the company, valued at $466,162.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dennis S. Hudson III sold 8,000 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $24.39, for a total transaction of $195,120.00. Following the transaction, the chief executive officer now owns 19,247 shares of the company’s stock, valued at approximately $469,434.33. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. William Blair Investment Management LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida in the second quarter worth about $19,215,000. Jennison Associates LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 62.1% in the third quarter. Jennison Associates LLC now owns 1,601,955 shares of the financial services provider’s stock worth $38,271,000 after buying an additional 613,947 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Seacoast Banking Corporation of Florida by 37.6% in the first quarter. Vanguard Group Inc. now owns 1,527,831 shares of the financial services provider’s stock worth $36,637,000 after buying an additional 417,334 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 44.4% in 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 buying an additional 308,644 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Seacoast Banking Corporation of Florida by 26.0% in the second quarter. State Street Corp now owns 1,212,356 shares of the financial services provider’s stock worth $29,218,000 after buying an additional 250,322 shares in the last quarter. Hedge funds and other institutional investors own 79.81% of the company’s stock.

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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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