FIG Partners Comments on Seacoast Banking Corporation of Florida’s Q1 2019 Earnings (SBCF)

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – FIG Partners raised their Q1 2019 earnings per share (EPS) estimates for Seacoast Banking Corporation of Florida in a research report issued to clients and investors on Friday. FIG Partners analyst C. Marinac now expects that the financial services provider will post earnings per share of $0.48 for the quarter, up from their previous estimate of $0.43. FIG Partners also issued estimates for Seacoast Banking Corporation of Florida’s Q2 2019 earnings at $0.49 EPS, Q3 2019 earnings at $0.50 EPS, Q4 2019 earnings at $0.51 EPS and FY2019 earnings at $1.98 EPS.

Several other research firms have also recently commented on SBCF. Zacks Investment Research upgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Saturday, December 30th. Sandler O’Neill set a $27.00 target price on Seacoast Banking Corporation of Florida and gave the company a “hold” rating in a research report on Thursday, January 4th. Hovde Group set a $27.00 target price on Seacoast Banking Corporation of Florida and gave the company a “hold” rating in a research report on Wednesday, January 3rd. FBR & Co restated a “buy” rating on shares of Seacoast Banking Corporation of Florida in a research report on Friday, October 27th. Finally, BidaskClub cut Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $27.80.

Shares of Seacoast Banking Corporation of Florida (SBCF) opened at $26.07 on Monday. Seacoast Banking Corporation of Florida has a 1 year low of $20.58 and a 1 year high of $27.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market capitalization of $1,134.36, a P/E ratio of 20.53 and a beta of 0.77.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 9.92% and a net margin of 17.14%. The firm had revenue of $74.87 million for the quarter, compared to analysts’ expectations of $67.93 million. During the same period last year, the firm earned $0.30 EPS. The firm’s revenue was up 58.1% compared to the same quarter last year.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its stake in Seacoast Banking Corporation of Florida by 3,190.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 4,148 shares in the last quarter. Magnetar Financial LLC bought a new position in Seacoast Banking Corporation of Florida during the 3rd quarter valued at $203,000. SG Americas Securities LLC bought a new position in Seacoast Banking Corporation of Florida during the 3rd quarter valued at $211,000. Legal & General Group Plc boosted its stake in Seacoast Banking Corporation of Florida by 38.1% during the 2nd quarter. Legal & General Group Plc now owns 10,015 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 2,761 shares in the last quarter. Finally, Virtu KCG Holdings LLC bought a new position in Seacoast Banking Corporation of Florida during the 2nd quarter valued at $277,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “FIG Partners Comments on Seacoast Banking Corporation of Florida’s Q1 2019 Earnings (SBCF)” was posted by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2018/01/29/fig-partners-comments-on-seacoast-banking-corporation-of-floridas-q1-2019-earnings-sbcf.html.

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)

Receive News & Ratings for Seacoast Banking Corporation of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Corporation of Florida and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply