Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have been given an average recommendation of “Moderate Buy” by the four brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $29.88.

Several analysts have recently weighed in on SBCF shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Truist Financial upped their price objective on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Hovde Group lowered Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $29.00 to $31.00 in a report on Monday, July 29th.

Seacoast Banking Co. of Florida Trading Down 2.4 %

Shares of SBCF stock opened at $26.13 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. Seacoast Banking Co. of Florida has a 1 year low of $19.04 and a 1 year high of $29.98. The stock has a fifty day moving average of $26.80 and a two-hundred day moving average of $24.80. The firm has a market capitalization of $2.22 billion, a PE ratio of 18.66 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The company had revenue of $201.99 million during the quarter, compared to analyst estimates of $126.00 million. During the same quarter in the previous year, the firm posted $0.37 EPS. As a group, research analysts expect that Seacoast Banking Co. of Florida will post 1.43 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, September 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is 51.43%.

Insider Activity

In other news, Director Dennis S. Hudson III sold 16,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total transaction of $432,000.00. Following the completion of the sale, the director now directly owns 234,312 shares of the company’s stock, valued at $6,326,424. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Several hedge funds have recently modified their holdings of SBCF. Corient Private Wealth LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 61.3% during the fourth quarter. Corient Private Wealth LLC now owns 38,004 shares of the financial services provider’s stock valued at $1,082,000 after purchasing an additional 14,449 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Seacoast Banking Co. of Florida in the 4th quarter worth about $10,179,000. Otter Creek Advisors LLC purchased a new stake in Seacoast Banking Co. of Florida in the 4th quarter worth about $2,376,000. Rafferty Asset Management LLC lifted its stake in Seacoast Banking Co. of Florida by 32.0% in the 4th quarter. Rafferty Asset Management LLC now owns 104,572 shares of the financial services provider’s stock worth $2,976,000 after acquiring an additional 25,370 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in Seacoast Banking Co. of Florida by 10.2% in the 4th quarter. Schroder Investment Management Group now owns 551,327 shares of the financial services provider’s stock worth $15,691,000 after acquiring an additional 50,902 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Company Profile

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.