Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Average Rating of “Hold” by Analysts

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have received an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $31.90.

Several equities analysts recently commented on SBCF shares. 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd.

Insider Buying and Selling

In other news, Director Dennis J. Arczynski sold 3,419 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $34.21, for a total value of $116,963.99. Following the transaction, the director directly owned 1,000 shares in the company, valued at $34,210. This trade represents a 77.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jacqueline Lynette Bradley sold 2,279 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $33.54, for a total value of $76,437.66. Following the sale, the director owned 7,000 shares of the company’s stock, valued at $234,780. The trade was a 24.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 21,752 shares of company stock worth $726,126. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

Several large investors have recently made changes to their positions in SBCF. Jones Financial Companies Lllp lifted its holdings in shares of Seacoast Banking Corporation of Florida by 69.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 352 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Seacoast Banking Corporation of Florida in the fourth quarter valued at about $26,000. Salomon & Ludwin LLC raised its position in 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. Measured Wealth Private Client Group LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the third quarter worth about $33,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida in the third quarter worth about $45,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

SBCF stock opened at $31.48 on Thursday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 19.68 and a beta of 0.92. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $35.55. The stock’s fifty day simple moving average is $33.08 and its 200-day simple moving average is $31.71.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $204.80 million for the quarter, compared to analysts’ expectations of $201.25 million. Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The business’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 earnings per share. Equities research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, March 13th. Seacoast Banking Corporation of Florida’s payout ratio is 47.50%.

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.