Seacoast Banking Co. of Florida (NASDAQ:SBCF) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

Several other brokerages have also recently commented on SBCF. Truist Financial reduced their price objective on shares of Seacoast Banking Co. of Florida from $42.00 to $39.00 and set a buy rating for the company in a research note on Wednesday, July 6th. B. Riley reduced their price objective on shares of Seacoast Banking Co. of Florida from $36.00 to $34.00 in a research note on Monday, July 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of Hold and a consensus target price of $37.33.

Seacoast Banking Co. of Florida Stock Up 2.2 %

SBCF stock opened at $36.56 on Monday. Seacoast Banking Co. of Florida has a one year low of $29.28 and a one year high of $39.31. The stock has a market capitalization of $2.24 billion, a PE ratio of 19.45 and a beta of 1.12. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79. The company has a fifty day moving average of $33.51 and a 200-day moving average of $34.55.

Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. Seacoast Banking Co. of Florida had a net margin of 29.70% and a return on equity of 9.80%. During the same period in the previous year, the business earned $0.59 earnings per share. As a group, analysts expect that Seacoast Banking Co. of Florida will post 2.11 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, September 14th. Seacoast Banking Co. of Florida’s payout ratio is currently 36.17%.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. purchased a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth about $299,000. Janney Montgomery Scott LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth about $204,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth about $555,000. Yousif Capital Management LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth about $1,871,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth about $1,213,000. Institutional investors and hedge funds own 79.87% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

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Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; and brokerage and annuity services.