Seacoast Banking Co. of Florida (NASDAQ:SBCF) Given New $29.00 Price Target at Stephens

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its target price lifted by Stephens from $28.00 to $29.00 in a research note published on Monday morning,Benzinga reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on SBCF. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Raymond James reiterated an “outperform” rating and issued a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ SBCF opened at $28.14 on Monday. The firm has a market cap of $2.41 billion, a P/E ratio of 19.68 and a beta of 1.08. The business’s 50 day moving average is $27.80 and its 200-day moving average is $27.75. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. Equities research analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.56%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in shares of Seacoast Banking Co. of Florida by 154.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 679 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC grew its stake in shares of Seacoast Banking Co. of Florida by 811.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock worth $73,000 after buying an additional 2,370 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth $76,000. Finally, KBC Group NV increased its holdings in shares of Seacoast Banking Co. of Florida by 30.0% during the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after buying an additional 768 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

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.