Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Average Rating of “Moderate Buy” by Brokerages

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $31.50.

Several brokerages have recently weighed in on SBCF. Keefe, Bruyette & Woods increased their target price on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Piper Sandler reissued a “neutral” rating and issued a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Wednesday, October 8th. Finally, Raymond James Financial set a $33.00 target price on Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a research note on Tuesday, October 7th.

Seacoast Banking Corporation of Florida Price Performance

NASDAQ:SBCF opened at $30.70 on Tuesday. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 18.17 and a beta of 1.01. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.85. The business has a 50 day simple moving average of $30.55 and a 200-day simple moving average of $28.84. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $32.33.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Monday, February 14th. The financial services provider reported $0.55 earnings per share for the quarter. The company had revenue of $83.85 million for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%. Equities analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, December 15th. This is an increase from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 44.97%.

Insider Buying and Selling

In other Seacoast Banking Corporation of Florida news, Director Dennis S. Hudson III sold 8,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Monday, November 10th. The stock was sold at an average price of $31.13, for a total transaction of $249,040.00. Following the completion of the sale, the director directly owned 251,275 shares of the company’s stock, valued at $7,822,190.75. The trade was a 3.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Trading of Seacoast Banking Corporation of Florida

Institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its holdings in Seacoast Banking Corporation of Florida by 3.9% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 9,274 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 344 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Seacoast Banking Corporation of Florida by 69.7% during the third quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after buying an additional 352 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 21.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock valued at $56,000 after buying an additional 366 shares in the last quarter. Truist Financial Corp grew its position in shares of Seacoast Banking Corporation of Florida by 2.2% in the 2nd quarter. Truist Financial Corp now owns 17,208 shares of the financial services provider’s stock worth $475,000 after buying an additional 373 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Seacoast Banking Corporation of Florida by 24.0% in the 2nd quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock worth $54,000 after buying an additional 375 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors.

About Seacoast Banking Corporation 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.