Stephens Lowers Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target to $26.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) had its target price lowered by Stephens from $28.00 to $26.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider's stock.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Friday, April 25th. 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 report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $29.40.

Seacoast Banking Co. of Florida Stock Up 2.2 %

SBCF stock traded up $0.52 during midday trading on Monday, hitting $24.48. The company's stock had a trading volume of 226,428 shares, compared to its average volume of 422,418. The firm's 50-day moving average is $24.81 and its 200-day moving average is $27.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12 month low of $21.36 and a 12 month high of $31.68. The company has a market cap of $2.10 billion, a PE ratio of 17.12 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings results 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). Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The business had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.41 million. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research 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 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. The ex-dividend date is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.94%. Seacoast Banking Co. of Florida's payout ratio is presently 48.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Seacoast Banking Co. of Florida by 182.3% in the 4th quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider's stock valued at $18,730,000 after acquiring an additional 439,346 shares during the period. Raymond James Financial Inc. acquired a new position in Seacoast Banking Co. of Florida in the 4th quarter worth about $6,850,000. Tributary Capital Management LLC raised its stake in shares of Seacoast Banking Co. of Florida by 44.4% during the 4th quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider's stock worth $18,028,000 after buying an additional 201,494 shares during the period. Invesco Ltd. grew its position in shares of Seacoast Banking Co. of Florida by 94.5% in the fourth quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider's stock valued at $11,163,000 after purchasing an additional 197,067 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in Seacoast Banking Co. of Florida by 39.1% during the 4th quarter. Nuveen Asset Management LLC now owns 648,144 shares of the financial services provider's stock worth $17,843,000 after buying an additional 182,350 shares in the last quarter. 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.