Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has received an average rating of "Moderate Buy" from six research firms, with the average twelve-month price target set at $29.40.
• The company recently reported better-than-expected quarterly earnings per share of $0.52, surpassing analysts' estimates by 10 cents and achieving a revenue of $151.40 million.
• Seacoast Banking Corporation has announced a quarterly dividend of $0.18, which translates to an annualized yield of 2.3%, with the payment scheduled for September 30th.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) has received an average recommendation of "Moderate Buy" from the six research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $29.40.

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Hovde Group boosted their target price on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Zacks Research raised Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new stake in Seacoast Banking Corporation of Florida in the 1st quarter valued at $27,000. IFP Advisors Inc boosted its holdings in shares of Seacoast Banking Corporation 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 buying an additional 994 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Seacoast Banking Corporation of Florida by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 460 shares during the period. Assetmark Inc. grew its holdings in Seacoast Banking Corporation of Florida by 24.0% during the second quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider's stock worth $54,000 after purchasing an additional 375 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in shares of Seacoast Banking Corporation of Florida by 28.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider's stock worth $57,000 after acquiring an additional 452 shares during the period. Institutional investors own 81.77% of the company's stock.

Seacoast Banking Corporation of Florida Trading Up 0.4%

Shares of SBCF stock opened at $30.82 on Thursday. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 18.91 and a beta of 0.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $32.09. The firm has a fifty day moving average of $29.42 and a 200-day moving average of $26.68.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. The company had revenue of $151.40 million for the quarter, compared to the consensus estimate of $146.08 million. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%.During the same period in the previous year, the business earned $0.36 earnings per share. On average, equities research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, September 15th. Seacoast Banking Corporation of Florida's payout ratio is presently 44.17%.

Seacoast Banking Corporation 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.

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