Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock Rating Upgraded by StockNews.com

Seacoast Banking Co. of Florida (NASDAQ:SBCF) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other analysts have also weighed in on the company. Raymond James reissued an “outperform” rating and issued a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday. Stephens increased their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Finally, Truist Financial dropped their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $29.40.

Seacoast Banking Co. of Florida Stock Up 0.2 %

Shares of NASDAQ SBCF opened at $28.30 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $28.05 and a 200 day moving average price of $27.46. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 20.51 and a beta of 1.09.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. Equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the sale, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SBCF. Renaissance Technologies LLC increased its position in Seacoast Banking Co. of Florida by 83.2% during the second quarter. Renaissance Technologies LLC now owns 78,605 shares of the financial services provider’s stock worth $1,858,000 after purchasing an additional 35,700 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the 2nd quarter worth $334,000. The Manufacturers Life Insurance Company increased its holdings in shares of Seacoast Banking Co. of Florida by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,424 shares of the financial services provider’s stock worth $1,121,000 after buying an additional 1,317 shares during the last quarter. Algert Global LLC purchased a new position in shares of Seacoast Banking Co. of Florida in the 2nd quarter worth $202,000. Finally, GAMMA Investing LLC boosted its holdings in Seacoast Banking Co. of Florida by 73.4% in the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 412 shares during the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.