Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target Raised to $32.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) had its target price lifted by analysts at Keefe, Bruyette & Woods from $31.00 to $32.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 25.93% from the company's current price.

A number of other research firms have also weighed in on SBCF. Wall Street Zen lowered shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Stephens dropped their price objective on 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. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $29.20.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ:SBCF traded down $0.18 during midday trading on Monday, hitting $25.41. The company's stock had a trading volume of 135,984 shares, compared to its average volume of 427,094. The business's 50 day simple moving average is $24.23 and its 200 day simple moving average is $26.63. 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 company has a market cap of $2.18 billion, a P/E ratio of 17.80 and a beta of 0.89. Seacoast Banking Co. of Florida has a 12-month low of $21.36 and a 12-month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The firm 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%. Seacoast Banking Co. of Florida'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 EPS for the current year.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Seacoast Banking Co. of Florida in the first quarter worth approximately $27,000. Smartleaf Asset Management LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 154.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 679 shares during the last quarter. IFP Advisors Inc boosted its holdings in Seacoast Banking Co. of Florida by 343.9% in the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider's stock worth $33,000 after purchasing an additional 994 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Seacoast Banking Co. of Florida during the fourth quarter worth $34,000. Finally, GAMMA Investing LLC raised its holdings in Seacoast Banking Co. of Florida by 38.0% during the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock valued at $43,000 after buying an additional 460 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company's stock.

About Seacoast Banking Co. of Florida

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.