Truist Financial Cuts Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target to $27.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) had its price objective trimmed by Truist Financial from $28.00 to $27.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the financial services provider's stock.

Separately, Raymond James boosted their price objective on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an outperform rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $25.63.

Seacoast Banking Co. of Florida Price Performance

NASDAQ SBCF traded down $0.63 on Monday, reaching $24.76. The company's stock had a trading volume of 357,746 shares, compared to its average volume of 408,051. Seacoast Banking Co. of Florida has a twelve month low of $17.93 and a twelve month high of $29.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $2.10 billion, a PE ratio of 20.48 and a beta of 1.16. The firm's 50 day moving average is $24.77 and its two-hundred day moving average is $24.23.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.05). The business had revenue of $128.16 million during the quarter, compared to analyst estimates of $135.33 million. Seacoast Banking Co. of Florida had a net margin of 13.54% and a return on equity of 5.04%. As a group, sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.46 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.91%. Seacoast Banking Co. of Florida's payout ratio is currently 58.06%.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Seacoast Banking Co. of Florida by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider's stock worth $171,619,000 after purchasing an additional 206,002 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Seacoast Banking Co. of Florida by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 155,410 shares of the financial services provider's stock valued at $4,423,000 after acquiring an additional 1,828 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Seacoast Banking Co. of Florida by 4.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 23,889 shares of the financial services provider's stock valued at $680,000 after acquiring an additional 923 shares during the period. Pier Capital LLC boosted its position in shares of Seacoast Banking Co. of Florida by 73.4% in the fourth quarter. Pier Capital LLC now owns 280,329 shares of the financial services provider's stock valued at $7,978,000 after acquiring an additional 118,667 shares during the period. Finally, Barclays PLC boosted its position in shares of Seacoast Banking Co. of Florida by 30.4% in the fourth quarter. Barclays PLC now owns 191,359 shares of the financial services provider's stock valued at $5,447,000 after acquiring an additional 44,624 shares during the period. Institutional investors own 81.77% of the company's stock.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.