Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Price Target Raised to $38.00 at Keefe, Bruyette & Woods

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) had its price target hoisted by Keefe, Bruyette & Woods from $36.00 to $38.00 in a report released on Monday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

SBCF has been the subject of a number of other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, January 22nd. Piper Sandler reiterated a “neutral” rating and issued a $33.50 target price 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 report on Tuesday, October 7th. Finally, Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.90.

Seacoast Banking Corporation of Florida Price Performance

SBCF stock opened at $33.39 on Monday. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $35.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $3.27 billion, a PE ratio of 20.87 and a beta of 0.93. The business has a 50 day simple moving average of $32.61 and a 200-day simple moving average of $30.99.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). The company had revenue of $204.79 million for the quarter, compared to analyst estimates of $201.25 million. Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.During the same period last year, the firm posted $0.48 EPS. The business’s quarterly revenue was up 53.0% on a year-over-year basis. Equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, March 13th. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 47.50%.

Insiders Place Their Bets

In related news, Director Dennis S. Hudson III sold 8,000 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $31.13, for a total value of $249,040.00. Following the completion of the sale, the director owned 251,275 shares in the company, valued at approximately $7,822,190.75. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

A number of institutional investors have recently modified their holdings of the company. CWM LLC lifted its stake in Seacoast Banking Corporation of Florida by 3.0% during the 4th quarter. CWM LLC now owns 11,083 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 320 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Seacoast Banking Corporation of Florida by 3.9% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 9,274 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 344 shares during the period. 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 worth $26,000 after purchasing an additional 352 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of Seacoast Banking Corporation of Florida by 59.3% in the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 356 shares during the period. Finally, Truist Financial Corp grew its holdings in shares of Seacoast Banking Corporation of Florida by 2.2% in the second quarter. Truist Financial Corp now owns 17,208 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 373 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Company Profile

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.