Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives $29.40 Consensus PT from Analysts

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) has received an average recommendation of "Hold" from the five ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $29.40.

SBCF has been the subject of several recent research reports. Stephens lowered their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. StockNews.com lowered shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods decreased their price objective on Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Raymond James restated an "outperform" rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th.

Seacoast Banking Co. of Florida Trading Down 0.7 %

Shares of NASDAQ:SBCF traded down $0.17 during mid-day trading on Friday, reaching $24.75. 227,980 shares of the company's stock were exchanged, compared to its average volume of 422,255. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 17.31 and a beta of 0.89. Seacoast Banking Co. of Florida has a twelve month low of $21.36 and a twelve month high of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The business's fifty day moving average price is $24.47 and its 200-day moving average price is $26.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The firm had revenue of $140.70 million for the quarter, compared to analysts' expectations of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. On average, research analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, June 13th. Seacoast Banking Co. of Florida's payout ratio is 48.32%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SBCF. Deutsche Bank AG raised its stake in Seacoast Banking Co. of Florida by 54.7% in the 1st quarter. Deutsche Bank AG now owns 114,082 shares of the financial services provider's stock valued at $2,935,000 after purchasing an additional 40,330 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Seacoast Banking Co. of Florida by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 953,894 shares of the financial services provider's stock valued at $24,544,000 after buying an additional 50,417 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in Seacoast Banking Co. of Florida by 27.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider's stock worth $73,834,000 after acquiring an additional 622,709 shares in the last quarter. Orca Wealth Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 1st quarter valued at $445,000. Finally, Mackenzie Financial Corp grew its position in Seacoast Banking Co. of Florida by 4.4% in the 1st quarter. Mackenzie Financial Corp now owns 24,159 shares of the financial services provider's stock valued at $622,000 after buying an additional 1,015 shares during the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.