Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target Raised to $29.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) had its target price boosted by Hovde Group from $27.00 to $29.00 in a report issued on Wednesday morning, Marketbeat reports. They currently have a market perform rating on the financial services provider's stock.

A number of other equities analysts have also recently weighed in on SBCF. Stephens lowered their price objective 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 report on Monday, April 28th. Wall Street Zen lowered Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on Seacoast Banking Co. of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida currently has an average rating of "Hold" and an average price target of $29.20.

Seacoast Banking Co. of Florida Trading Up 1.7%

SBCF stock traded up $0.43 during midday trading on Wednesday, hitting $25.90. 381,062 shares of the company's stock were exchanged, compared to its average volume of 439,772. Seacoast Banking Co. of Florida has a 1-year low of $21.36 and a 1-year high of $31.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $2.23 billion, a PE ratio of 18.11 and a beta of 0.92. The business has a 50-day simple moving average of $24.22 and a two-hundred day simple moving average of $26.60.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $140.70 million during the quarter, compared to analysts' expectations of $138.41 million. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The business's quarterly revenue was up 12.0% on a year-over-year basis. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio is presently 48.32%.

Institutional Trading of Seacoast Banking Co. of Florida

Hedge funds have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the 1st quarter worth $27,000. Smartleaf Asset Management LLC boosted its position in shares of Seacoast Banking Co. of Florida by 154.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock worth $31,000 after acquiring an additional 679 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at about $34,000. IFP Advisors Inc increased its holdings in shares of Seacoast Banking Co. of Florida by 343.9% in the 1st quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 994 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Seacoast Banking Co. of Florida by 38.0% during the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock worth $43,000 after acquiring an additional 460 shares in the last quarter. Institutional investors and hedge funds 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.