Seacoast Banking Corporation of Florida (SBCF) Receives Consensus Rating of “Buy” from Analysts

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has received an average recommendation of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $29.50.

Several research analysts have commented on SBCF shares. FBR & Co reaffirmed a “buy” rating on shares of Seacoast Banking Corporation of Florida in a research report on Friday, October 27th. Zacks Investment Research downgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. BidaskClub downgraded Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Hovde Group set a $27.00 price target on Seacoast Banking Corporation of Florida and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Finally, Sandler O’Neill set a $27.00 price target on Seacoast Banking Corporation of Florida and gave the stock a “hold” rating in a research report on Thursday, January 4th.

In other news, CEO Dennis S. Hudson III sold 2,300 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $24.22, for a total transaction of $55,706.00. Following the sale, the chief executive officer now directly owns 19,247 shares in the company, valued at $466,162.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its position in shares of Seacoast Banking Corporation of Florida by 5.8% during the second quarter. TIAA CREF Investment Management LLC now owns 135,984 shares of the financial services provider’s stock valued at $3,277,000 after purchasing an additional 7,424 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Seacoast Banking Corporation of Florida by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,321,937 shares of the financial services provider’s stock valued at $31,859,000 after purchasing an additional 12,918 shares during the period. Northern Trust Corp increased its position in shares of Seacoast Banking Corporation of Florida by 24.8% during the second quarter. Northern Trust Corp now owns 452,458 shares of the financial services provider’s stock valued at $10,904,000 after purchasing an additional 89,810 shares during the period. Nationwide Fund Advisors increased its position in shares of Seacoast Banking Corporation of Florida by 9.9% during the second quarter. Nationwide Fund Advisors now owns 53,880 shares of the financial services provider’s stock valued at $1,299,000 after purchasing an additional 4,850 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Seacoast Banking Corporation of Florida by 62.1% during the third quarter. Jennison Associates LLC now owns 1,601,955 shares of the financial services provider’s stock valued at $38,271,000 after purchasing an additional 613,947 shares during the period. Institutional investors and hedge funds own 80.51% of the company’s stock.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at $25.00 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1,196.40, a P/E ratio of 25.51 and a beta of 0.69. Seacoast Banking Corporation of Florida has a 1 year low of $20.58 and a 1 year high of $27.50.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company had revenue of $74.87 million for the quarter, compared to the consensus estimate of $67.93 million. Seacoast Banking Corporation of Florida had a return on equity of 9.92% and a net margin of 17.14%. The company’s revenue for the quarter was up 58.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. equities analysts anticipate that Seacoast Banking Corporation of Florida will post 1.77 earnings per share for the current year.

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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.

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

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