Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives New Coverage from Analysts at Stephens

Stephens started coverage on shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) in a research report report published on Tuesday, FlyOnTheWall reports. The brokerage issued an equal weight rating on the financial services provider’s stock.

SBCF has been the subject of a number of other research reports. TheStreet upgraded Seacoast Banking Co. of Florida from a c rating to a b- rating in a research note on Thursday, July 27th. Raymond James boosted their price target on Seacoast Banking Co. of Florida from $26.00 to $27.00 and gave the stock an outperform rating in a report on Monday, July 31st. Finally, Truist Financial increased their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $28.00 and gave the company a buy rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $28.25.

Seacoast Banking Co. of Florida Trading Up 0.6 %

Shares of NASDAQ:SBCF opened at $22.90 on Tuesday. The stock’s 50-day simple moving average is $23.78 and its two-hundred day simple moving average is $23.28. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 17.22 and a beta of 1.10. Seacoast Banking Co. of Florida has a 52-week low of $17.93 and a 52-week high of $34.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). Seacoast Banking Co. of Florida had a return on equity of 5.50% and a net margin of 15.31%. The business had revenue of $148.54 million during the quarter, compared to the consensus estimate of $153.40 million. Analysts expect that Seacoast Banking Co. of Florida will post 1.42 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 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.14%. Seacoast Banking Co. of Florida’s dividend payout ratio is 54.14%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other news, EVP James C. Stallings III sold 2,990 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $23.78, for a total transaction of $71,102.20. Following the transaction, the executive vice president now owns 3,703 shares in the company, valued at $88,057.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBCF. Dimensional Fund Advisors LP grew its holdings in Seacoast Banking Co. of Florida by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,885,932 shares of the financial services provider’s stock worth $58,823,000 after purchasing an additional 97,816 shares during the last quarter. Russell Investments Group Ltd. increased its position in Seacoast Banking Co. of Florida by 223.8% during the 1st quarter. Russell Investments Group Ltd. now owns 57,272 shares of the financial services provider’s stock valued at $1,357,000 after buying an additional 39,583 shares in the last quarter. Noble Family Wealth LLC acquired a new position in Seacoast Banking Co. of Florida during the 1st quarter valued at about $680,000. Wellington Management Group LLP boosted its holdings in Seacoast Banking Co. of Florida by 8.0% in the first quarter. Wellington Management Group LLP now owns 2,835,947 shares of the financial services provider’s stock worth $67,212,000 after acquiring an additional 210,215 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Seacoast Banking Co. of Florida by 5.2% in the fourth quarter. Schroder Investment Management Group now owns 527,921 shares of the financial services provider’s stock worth $16,466,000 after acquiring an additional 26,270 shares in the last quarter. Hedge funds and other institutional investors own 81.11% of the company’s stock.

About Seacoast Banking Co. of Florida

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. It offers commercial and retail banking, wealth management, mortgage, and insurance services through online and mobile banking solutions; and brokerage and annuity services.