Stephens Lowers Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target to $26.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price objective cut by equities researchers at Stephens from $28.00 to $26.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 8.11% from the company’s current price.

Several other equities research analysts have also recently weighed in on SBCF. StockNews.com downgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Raymond James reissued an “outperform” rating and set a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.40.

Seacoast Banking Co. of Florida Stock Performance

Shares of Seacoast Banking Co. of Florida stock opened at $24.05 on Monday. The business’s fifty day simple moving average is $25.05 and its 200 day simple moving average is $27.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12 month low of $21.36 and a 12 month high of $31.68. The firm has a market capitalization of $2.06 billion, a P/E ratio of 16.82 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.41 million. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. Seacoast Banking Co. of Florida’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Institutional Trading of Seacoast Banking Co. of Florida

Several large investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Seacoast Banking Co. of Florida during the 1st quarter valued at approximately $27,000. Smartleaf Asset Management LLC raised its stake in shares of Seacoast Banking Co. of Florida by 154.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock worth $31,000 after buying an additional 679 shares during the period. Kestra Investment Management LLC bought a new stake in Seacoast Banking Co. of Florida during the fourth quarter valued at about $34,000. GAMMA Investing LLC lifted its stake in Seacoast Banking Co. of Florida by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 460 shares in the last quarter. Finally, Sterling Capital Management LLC grew its holdings in Seacoast Banking Co. of Florida by 811.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock valued at $73,000 after buying an additional 2,370 shares in the last quarter. 81.77% of the stock is owned by institutional investors.

About Seacoast Banking Co. of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.