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

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has been given an average recommendation of “Hold” by the seven research firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $31.90.

Several research analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and set a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Keefe, Bruyette & Woods lifted their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Zacks Research cut Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd.

Seacoast Banking Corporation of Florida Price Performance

Shares of NASDAQ SBCF opened at $35.09 on Friday. The firm has a 50-day simple moving average of $32.85 and a 200-day simple moving average of $31.13. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 21.93 and a beta of 0.93. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $204.79 million for the quarter, compared to analysts’ expectations of $201.25 million. Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The firm’s revenue was up 53.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. On average, equities analysts predict 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.2%. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 47.50%.

Insider Activity

In other news, Director Maryann Goebel sold 3,419 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $34.23, for a total transaction of $117,032.37. Following the completion of the sale, the director owned 6,000 shares in the company, valued at $205,380. This trade represents a 36.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacqueline Lynette Bradley sold 2,279 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $33.54, for a total transaction of $76,437.66. Following the sale, the director directly owned 7,000 shares in the company, valued at approximately $234,780. The trade was a 24.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,117 shares of company stock valued at $559,474 over the last three months. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its position in 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 during the period. Salomon & Ludwin LLC increased its position in shares of Seacoast Banking Corporation of Florida by 59.3% during the 4th quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 356 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 3rd quarter worth about $33,000. Advisory Services Network LLC purchased a new stake in Seacoast Banking Corporation of Florida in the 3rd quarter valued at about $45,000. Finally, Smartleaf Asset Management LLC lifted its position in Seacoast Banking Corporation of Florida by 41.1% in the third 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 during the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

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.