Seacoast Banking Corporation of Florida (SBCF) Rating Lowered to Hold at Zacks Investment Research

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Seacoast Banking Corp of Florida is a bank holding company. Seacoast and its subsidiaries offer a full array of deposit accounts and retail banking services, engages in consumer and commercial lending and provides a wide variety of trust and asset management services, as well as securities and annuity products. “

Other equities analysts have also issued reports about the stock. Sandler O’Neill raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Thursday, January 11th. Hovde Group upgraded shares of Seacoast Banking Corporation of Florida from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $30.00 to $29.00 in a report on Wednesday, February 7th. B. Riley reiterated a “buy” rating and issued a $30.00 price target on shares of Seacoast Banking Corporation of Florida in a report on Friday, January 26th. FBR & Co reiterated a “buy” rating on shares of Seacoast Banking Corporation of Florida in a report on Friday, October 27th. Finally, BidaskClub downgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $29.00.

Seacoast Banking Corporation of Florida (SBCF) opened at $24.66 on Wednesday. The company has a market cap of $1,151.36, a P/E ratio of 25.16 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.82. 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 announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $74.87 million during the quarter, compared to analyst estimates of $67.93 million. Seacoast Banking Corporation of Florida had a net margin of 17.14% and a return on equity of 9.92%. Seacoast Banking Corporation of Florida’s revenue was up 58.1% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.77 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of SBCF. BNP Paribas Arbitrage SA increased its holdings in Seacoast Banking Corporation of Florida by 58.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,776 shares of the financial services provider’s stock worth $162,000 after buying an additional 2,498 shares during the period. Magnetar Financial LLC acquired a new position in Seacoast Banking Corporation of Florida in the 3rd quarter worth approximately $203,000. SG Americas Securities LLC acquired a new position in Seacoast Banking Corporation of Florida in the 3rd quarter worth approximately $211,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 4th quarter worth approximately $222,000. Finally, Navellier & Associates Inc acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 4th quarter worth approximately $261,000. Institutional investors own 74.79% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Seacoast Banking Corporation of Florida (SBCF) Rating Lowered to Hold at Zacks Investment Research” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another site, it was copied illegally and republished in violation of United States & international copyright laws. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/02/14/seacoast-banking-corporation-of-florida-sbcf-rating-lowered-to-hold-at-zacks-investment-research.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.

Get a free copy of the Zacks research report on Seacoast Banking Corporation of Florida (SBCF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations 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