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

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has received an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $31.50.

Several equities analysts have recently weighed in on SBCF shares. Keefe, Bruyette & Woods increased their price objective on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Piper Sandler reaffirmed a “neutral” rating and set a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Raymond James Financial set a $33.00 price target on shares of Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Wednesday, October 8th.

Insider Activity at Seacoast Banking Corporation of Florida

In related news, Director Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $31.13, for a total value of $249,040.00. Following the sale, the director directly owned 251,275 shares in the company, valued at approximately $7,822,190.75. The trade was a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Seacoast Banking Corporation of Florida

Hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of Seacoast Banking Corporation of Florida by 69.7% in the third quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 352 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Seacoast Banking Corporation of Florida in the 3rd quarter worth $33,000. Advisory Services Network LLC bought a new stake in shares of Seacoast Banking Corporation of Florida in the 3rd quarter worth about $45,000. Smartleaf Asset Management LLC raised its position in shares of Seacoast Banking Corporation of Florida by 41.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock valued at $50,000 after buying an additional 478 shares in the last quarter. Finally, Caldwell Trust Co bought a new position in shares of Seacoast Banking Corporation of Florida in the 2nd quarter valued at about $51,000. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF stock opened at $31.82 on Friday. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 18.83 and a beta of 0.95. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $33.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. The company’s 50-day moving average is $31.07 and its 200 day moving average is $29.69.

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

Seacoast Banking Corporation of Florida Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This is a positive change from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is 44.97%.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.