Brokerages Set Seacoast Banking Co. of Florida (NASDAQ:SBCF) PT at $29.88

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have been given a consensus recommendation of “Moderate Buy” by the four brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $29.88.

A number of research analysts have commented on the stock. Truist Financial raised their price target on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Hovde Group downgraded Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $29.00 to $31.00 in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

A number of institutional investors and hedge funds have recently bought and sold shares of SBCF. Vanguard Group Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider’s stock valued at $171,619,000 after acquiring an additional 206,002 shares during the period. BNP Paribas Financial Markets lifted its position in Seacoast Banking Co. of Florida by 64.4% during the 1st quarter. BNP Paribas Financial Markets now owns 42,118 shares of the financial services provider’s stock valued at $1,069,000 after purchasing an additional 16,493 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Seacoast Banking Co. of Florida by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 460 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the 1st quarter worth approximately $348,000. Finally, GSA Capital Partners LLP acquired a new position in Seacoast Banking Co. of Florida in the first quarter valued at approximately $1,325,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Down 2.7 %

Shares of SBCF stock opened at $26.33 on Monday. Seacoast Banking Co. of Florida has a one year low of $19.67 and a one year high of $29.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a fifty day moving average price of $26.75 and a 200 day moving average price of $25.12. The stock has a market cap of $2.24 billion, a P/E ratio of 18.94 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.84% and a return on equity of 5.58%. The company had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $129.20 million. During the same quarter in the prior year, the company posted $0.37 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Analysts predict that Seacoast Banking Co. of Florida will post 1.43 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is currently 51.80%.

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.