Seacoast Banking Co. of Florida (NASDAQ:SBCF) Given Average Recommendation of "Hold" by Brokerages

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five ratings firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $29.40.

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

Seacoast Banking Co. of Florida Stock Performance

SBCF stock traded up $0.11 during mid-day trading on Friday, hitting $25.98. The company had a trading volume of 110,968 shares, compared to its average volume of 421,129. The firm has a market cap of $2.23 billion, a PE ratio of 18.17 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Co. of Florida has a 12 month low of $21.36 and a 12 month high of $31.68. The stock's fifty day moving average price is $24.43 and its two-hundred day moving average price is $26.96.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share 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 the consensus estimate 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 was up 12.0% on a year-over-year basis. On average, analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is 48.32%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Aptus Capital Advisors LLC grew its position in Seacoast Banking Co. of Florida by 12.7% during the 1st quarter. Aptus Capital Advisors LLC now owns 346,631 shares of the financial services provider's stock worth $8,919,000 after purchasing an additional 39,175 shares during the last quarter. Algert Global LLC lifted its stake in Seacoast Banking Co. of Florida by 1,164.4% during the 1st quarter. Algert Global LLC now owns 97,447 shares of the financial services provider's stock valued at $2,507,000 after acquiring an additional 89,740 shares during the period. American Century Companies Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 10.1% in the 1st quarter. American Century Companies Inc. now owns 204,811 shares of the financial services provider's stock valued at $5,270,000 after purchasing an additional 18,780 shares during the period. Aberdeen Group plc lifted its stake in shares of Seacoast Banking Co. of Florida by 7.0% in the 1st quarter. Aberdeen Group plc now owns 989,412 shares of the financial services provider's stock valued at $25,458,000 after purchasing an additional 65,070 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Seacoast Banking Co. of Florida by 12.8% in the 1st quarter. Russell Investments Group Ltd. now owns 569,866 shares of the financial services provider's stock valued at $14,663,000 after purchasing an additional 64,854 shares during the period. Hedge funds and other institutional investors own 81.77% of the company's stock.

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.