Seacoast Banking Co. of Florida (NASDAQ:SBCF) PT Lowered to $25.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price objective reduced by equities researchers at Truist Financial from $27.00 to $25.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target points to a potential upside of 8.37% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Hovde Group reduced their target price on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday. Raymond James boosted their price target on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.90.

Seacoast Banking Co. of Florida Stock Down 2.1 %

SBCF stock opened at $23.07 on Monday. The business has a 50-day simple moving average of $23.96 and a 200 day simple moving average of $24.47. The company has a market cap of $1.96 billion, a PE ratio of 16.48 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. Seacoast Banking Co. of Florida has a 52 week low of $17.93 and a 52 week high of $29.98.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of Seacoast Banking Co. of Florida by 31.7% in the third quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after purchasing an additional 1,106,724 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at about $10,179,000. abrdn plc increased its holdings in Seacoast Banking Co. of Florida by 40.7% during the 3rd quarter. abrdn plc now owns 1,212,652 shares of the financial services provider’s stock worth $26,630,000 after acquiring an additional 350,726 shares during the period. Franklin Resources Inc. lifted its stake in Seacoast Banking Co. of Florida by 20.6% in the 4th quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock worth $58,262,000 after purchasing an additional 349,147 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Seacoast Banking Co. of Florida by 11.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock worth $84,814,000 after buying an additional 310,499 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.