Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target Lowered to $24.00 at Truist Financial

Seacoast Banking Co. of Florida (NASDAQ:SBCFGet Free Report) had its price target cut by equities research analysts at Truist Financial from $25.00 to $24.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price indicates a potential upside of 3.45% from the company’s current price.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods raised Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $26.00 to $27.00 in a research report on Friday, May 31st. Hovde Group lowered their price target on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.10.

Read Our Latest Stock Report on Seacoast Banking Co. of Florida

Seacoast Banking Co. of Florida Trading Up 0.9 %

Shares of NASDAQ:SBCF traded up $0.20 during midday trading on Monday, hitting $23.20. 77,918 shares of the stock were exchanged, compared to its average volume of 393,587. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 16.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50-day moving average price is $23.32 and its 200 day moving average price is $24.47. Seacoast Banking Co. of Florida has a 12 month low of $19.04 and a 12 month high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCFGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.03). Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. The firm had revenue of $125.58 million for the quarter, compared to the consensus estimate of $127.95 million. Analysts predict that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current year.

Insider Transactions at Seacoast Banking Co. of Florida

In other news, EVP James C. Stallings III sold 3,855 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $24.44, for a total value of $94,216.20. Following the sale, the executive vice president now directly owns 3,961 shares of the company’s stock, valued at $96,806.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $25,000. Good Life Advisors LLC purchased a new stake in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $205,000. Janney Montgomery Scott LLC raised its stake in Seacoast Banking Co. of Florida by 6.0% in the first 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 in the last quarter. Xcel Wealth Management LLC purchased a new stake in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $238,000. Finally, SG Americas Securities LLC purchased a new stake in Seacoast Banking Co. of Florida in the first quarter valued at approximately $263,000. 81.77% of the stock is owned by hedge funds and other institutional investors.

About Seacoast Banking Co. of Florida

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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