Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $35.00.

Several analysts have issued reports on the company. Piper Sandler boosted their price objective on Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In other news, CEO Charles M. Shaffer sold 10,367 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $30.88, for a total value of $320,132.96. Following the completion of the sale, the chief executive officer owned 174,113 shares in the company, valued at $5,376,609.44. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James C. Stallings III sold 7,552 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $31.16, for a total value of $235,320.32. Following the completion of the sale, the executive vice president directly owned 7,247 shares of the company’s stock, valued at approximately $225,816.52. This trade represents a 51.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,919 shares of company stock valued at $942,733 in the last three months. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Several institutional investors and hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Seacoast Banking Corporation of Florida in the fourth quarter worth approximately $26,000. Salomon & Ludwin LLC grew its position in Seacoast Banking Corporation of Florida by 59.3% during the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 356 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Seacoast Banking Corporation of Florida during the third quarter valued at approximately $33,000. Advisory Services Network LLC acquired a new position in Seacoast Banking Corporation of Florida in the 3rd quarter valued at approximately $45,000. Finally, Kestra Advisory Services LLC acquired a new position in Seacoast Banking Corporation of Florida in the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Performance

SBCF opened at $32.64 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.33. The firm has a market cap of $3.17 billion, a PE ratio of 21.47 and a beta of 0.85. The business has a fifty day simple moving average of $31.17 and a 200-day simple moving average of $31.81. Seacoast Banking Corporation of Florida has a fifty-two week low of $27.22 and a fifty-two week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Seacoast Banking Corporation of Florida had a return on equity of 8.23% and a net margin of 14.42%.The company had revenue of $205.10 million for the quarter, compared to analyst estimates of $205.51 million. During the same period in the previous year, the firm earned $0.38 earnings per share. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, equities analysts predict that Seacoast Banking Corporation of Florida will post 2.51 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, June 15th. Seacoast Banking Corporation of Florida’s payout ratio is presently 50.00%.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.