Analysts Set Seacoast Banking Co. of Florida (NASDAQ:SBCF) Target Price at $29.40

Seacoast Banking Co. of Florida (NASDAQ:SBCF) has been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $29.40.

A number of analysts have recently weighed in on the stock. Raymond James reiterated an “outperform” rating and set a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

A number of institutional investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. raised its stake in Seacoast Banking Co. of Florida by 3.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider’s stock worth $318,000 after buying an additional 380 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Seacoast Banking Co. of Florida by 0.8% during the third quarter. Hantz Financial Services Inc. now owns 51,132 shares of the financial services provider’s stock valued at $1,363,000 after purchasing an additional 383 shares in the last quarter. Mariner LLC increased its stake in shares of Seacoast Banking Co. of Florida by 2.8% during the fourth quarter. Mariner LLC now owns 15,132 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 407 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Seacoast Banking Co. of Florida by 6.0% during the fourth quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 478 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Seacoast Banking Co. of Florida by 1.6% during the fourth quarter. Synovus Financial Corp now owns 33,235 shares of the financial services provider’s stock valued at $915,000 after purchasing an additional 539 shares in the last quarter. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ SBCF opened at $27.97 on Friday. The company has a 50-day simple moving average of $27.74 and a two-hundred day simple moving average of $27.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 19.56 and a beta of 1.08.

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 the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. On average, equities analysts forecast that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Friday, March 14th. Seacoast Banking Co. of Florida’s payout ratio is currently 50.35%.

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.