Seacoast Banking Co. of Florida (NASDAQ:SBCF) Upgraded to Sell by StockNews.com

StockNews.com upgraded shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) to a sell rating in a research report sent to investors on Monday.

A number of other brokerages have also recently weighed in on SBCF. Raymond James reduced their price target on shares of Seacoast Banking Co. of Florida from $27.00 to $23.00 and set an outperform rating on the stock in a research report on Monday. Stephens assumed coverage on shares of Seacoast Banking Co. of Florida in a report on Tuesday, September 12th. They set an equal weight rating and a $23.00 price objective on the stock. TheStreet upgraded Seacoast Banking Co. of Florida from a c rating to a b- rating in a report on Thursday, July 27th. Finally, Truist Financial cut their target price on Seacoast Banking Co. of Florida from $28.00 to $25.00 and set a buy rating on the stock in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of Hold and a consensus price target of $25.80.

Seacoast Banking Co. of Florida Price Performance

Seacoast Banking Co. of Florida stock opened at $19.96 on Monday. Seacoast Banking Co. of Florida has a one year low of $17.93 and a one year high of $34.96. The business has a 50 day simple moving average of $21.94 and a 200 day simple moving average of $22.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $1.69 billion, a PE ratio of 16.23 and a beta of 1.10.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.61%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 58.54%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, EVP James C. Stallings III sold 2,990 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $23.78, for a total value of $71,102.20. Following the sale, the executive vice president now owns 3,703 shares in the company, valued at approximately $88,057.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Several institutional investors and hedge funds have recently made changes to their positions in SBCF. BlackRock Inc. boosted its holdings in shares of Seacoast Banking Co. of Florida by 1.4% during the 2nd quarter. BlackRock Inc. now owns 12,220,075 shares of the financial services provider’s stock worth $270,064,000 after buying an additional 169,421 shares in the last quarter. State Street Corp grew its holdings in Seacoast Banking Co. of Florida by 5.5% in the second quarter. State Street Corp now owns 4,636,065 shares of the financial services provider’s stock worth $102,457,000 after purchasing an additional 240,107 shares during the period. Capital World Investors increased its stake in Seacoast Banking Co. of Florida by 1.2% in the first quarter. Capital World Investors now owns 4,156,901 shares of the financial services provider’s stock valued at $145,575,000 after purchasing an additional 50,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Seacoast Banking Co. of Florida by 0.3% during the third quarter. Vanguard Group Inc. now owns 4,116,385 shares of the financial services provider’s stock valued at $124,437,000 after purchasing an additional 10,598 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Seacoast Banking Co. of Florida by 8.9% during the second quarter. Westwood Holdings Group Inc. now owns 2,904,746 shares of the financial services provider’s stock valued at $64,195,000 after purchasing an additional 238,347 shares during the period. 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.