Zacks: Brokerages Anticipate Seacoast Banking Co. of Florida (SBCF) Will Announce Earnings of $0.41 Per Share

Equities analysts expect that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will post earnings per share of $0.41 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Seacoast Banking Co. of Florida’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.39. Seacoast Banking Co. of Florida reported earnings of $0.35 per share in the same quarter last year, which would indicate a positive year over year growth rate of 17.1%. The firm is scheduled to report its next earnings results after the market closes on Thursday, October 25th.

According to Zacks, analysts expect that Seacoast Banking Co. of Florida will report full year earnings of $1.63 per share for the current year, with EPS estimates ranging from $1.57 to $1.71. For the next year, analysts anticipate that the company will post earnings of $2.09 per share, with EPS estimates ranging from $2.05 to $2.15. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 26th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.05). Seacoast Banking Co. of Florida had a return on equity of 10.36% and a net margin of 22.34%. The firm had revenue of $62.98 million for the quarter, compared to analyst estimates of $64.78 million. During the same quarter last year, the business posted $0.29 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year.

A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. ValuEngine raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Hovde Group increased their price target on shares of Seacoast Banking Co. of Florida from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, June 15th. BidaskClub downgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Saturday, September 29th. Finally, B. Riley cut their price target on shares of Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus price target of $33.20.

A number of large investors have recently bought and sold shares of the business. United Services Automobile Association purchased a new position in Seacoast Banking Co. of Florida during the second quarter worth approximately $232,000. Northern Trust Corp raised its stake in Seacoast Banking Co. of Florida by 11.5% during the second quarter. Northern Trust Corp now owns 541,686 shares of the financial services provider’s stock worth $17,107,000 after purchasing an additional 55,669 shares during the period. California Public Employees Retirement System raised its stake in Seacoast Banking Co. of Florida by 8.5% during the second quarter. California Public Employees Retirement System now owns 55,375 shares of the financial services provider’s stock worth $1,749,000 after purchasing an additional 4,334 shares during the period. Waddell & Reed Financial Inc. purchased a new position in Seacoast Banking Co. of Florida during the second quarter worth approximately $18,169,000. Finally, MetLife Investment Advisors LLC raised its stake in Seacoast Banking Co. of Florida by 11.6% during the second quarter. MetLife Investment Advisors LLC now owns 21,315 shares of the financial services provider’s stock worth $673,000 after purchasing an additional 2,219 shares during the period. 84.22% of the stock is currently owned by institutional investors.

Shares of NASDAQ SBCF opened at $27.01 on Friday. Seacoast Banking Co. of Florida has a 1 year low of $22.42 and a 1 year high of $34.95. The company has a market cap of $1.38 billion, a P/E ratio of 21.10 and a beta of 0.54. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; and brokerage and annuity services.

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