Seacoast Banking Corporation of Florida (SBCF) - What Are Investment Firms Saying About This Stock?

Key Points

• Analysts are moderately bullish on Seacoast Banking Corporation of Florida: three of five rate the stock a buy, while two recommend holding. Their average 12-month price target is $36.50.
• The company slightly beat quarterly estimates, reporting earnings of $0.66 per share and revenue of $217.5 million. It also raised its quarterly dividend from $0.19 to $0.20 per share, equivalent to a 2.3% yield.
• Shares opened at $34.12, within a 52-week range of $28.69–$36.27. Executives disclosed share sales, while institutional investors and hedge funds own about 81.8% of the stock.

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) have been given an average rating of "Moderate Buy" by the five analysts that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $36.50.

A number of research analysts have weighed in on SBCF shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Seacoast Banking Corporation of Florida in a research report on Friday, September 25th. Raymond James Financial reissued an "outperform" rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, October 29th. Piper Sandler raised their target price on Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price target on Seacoast Banking Corporation of Florida from $37.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, November 5th.

Seacoast Banking Corporation of Florida Stock Performance

SBCF opened at $34.12 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a fifty day moving average price of $33.14 and a 200 day moving average price of $32.52. Seacoast Banking Corporation of Florida has a 1 year low of $28.69 and a 1 year high of $36.27. The stock has a market cap of $3.30 billion, a P/E ratio of 20.07 and a beta of 0.88.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $217.50 million for the quarter, compared to analyst estimates of $216.32 million. Seacoast Banking Corporation of Florida had a net margin of 16.27% and a return on equity of 9.49%. Equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 2.53 earnings per share for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This is an increase from Seacoast Banking Corporation of Florida's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.3%. Seacoast Banking Corporation of Florida's dividend payout ratio is 44.71%.

Insider Activity at Seacoast Banking Corporation of Florida

In other news, EVP Juliette Kleffel sold 14,831 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $34.31, for a total value of $508,851.61. Following the completion of the sale, the executive vice president directly owned 78,321 shares in the company, valued at $2,687,193.51. The trade was a 15.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis Hudson, III sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $34.15, for a total value of $409,800.00. Following the transaction, the director directly owned 206,869 shares of the company's stock, valued at approximately $7,064,576.35. The trade was a 5.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Seacoast Banking Corporation of Florida by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,150,592 shares of the financial services provider's stock valued at $95,427,000 after purchasing an additional 123,273 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Seacoast Banking Corporation of Florida during the 2nd quarter worth about $23,407,000. Emerald Advisers LLC raised its position in shares of Seacoast Banking Corporation of Florida by 163.2% during the 1st quarter. Emerald Advisers LLC now owns 504,363 shares of the financial services provider's stock worth $15,277,000 after purchasing an additional 312,712 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Seacoast Banking Corporation of Florida by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 470,731 shares of the financial services provider's stock worth $14,258,000 after purchasing an additional 9,454 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Seacoast Banking Corporation of Florida by 97.4% in the 1st quarter. Bank of America Corp DE now owns 464,064 shares of the financial services provider's stock valued at $14,056,000 after buying an additional 228,935 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is a bank holding company whose principal subsidiary, Seacoast National Bank, provides banking and related financial services. The company serves individuals, businesses and organizations, with offerings that include deposit accounts, consumer and commercial lending, mortgage services, cash management and wealth management.

Founded in 1926, Seacoast has grown from its roots in Stuart, Florida, and serves communities across the state through branches and digital banking services.

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