Keefe, Bruyette & Woods Issues Positive Forecast for Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock Price

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its target price upped by Keefe, Bruyette & Woods from $31.00 to $32.00 in a research note released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on SBCF. Stephens decreased their price target on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Wall Street Zen cut Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.60.

Seacoast Banking Co. of Florida Stock Down 1.0%

SBCF stock opened at $25.56 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $24.23 and a two-hundred day moving average price of $26.64. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 17.87 and a beta of 0.89. Seacoast Banking Co. of Florida has a twelve month low of $21.36 and a twelve month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The company had revenue of $140.70 million during 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%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.18 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.82%. Seacoast Banking Co. of Florida’s payout ratio is 48.32%.

Institutional Trading of Seacoast Banking Co. of Florida

A number of hedge funds have recently made changes to their positions in SBCF. Barclays PLC lifted its position in shares of Seacoast Banking Co. of Florida by 112.0% in the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider’s stock valued at $4,754,000 after buying an additional 94,242 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Seacoast Banking Co. of Florida by 24.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 1,930 shares during the last quarter. KBC Group NV lifted its holdings in Seacoast Banking Co. of Florida by 33.7% during the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 1,121 shares during the last quarter. Rhumbline Advisers lifted its holdings in Seacoast Banking Co. of Florida by 0.3% during the 4th quarter. Rhumbline Advisers now owns 256,011 shares of the financial services provider’s stock worth $7,048,000 after purchasing an additional 717 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Seacoast Banking Co. of Florida by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 410,632 shares of the financial services provider’s stock worth $11,305,000 after purchasing an additional 12,142 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Company Profile

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.