Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Average Recommendation of "Hold" by Analysts

Key Points

• Consensus "Hold" — Seven analysts give Seacoast an average "Hold" rating (4 holds, 3 buys) with a 12‑month price target of $31.90; Weiss upgraded to buy and Keefe, Bruyette & Woods raised its target to $38.
• Recent quarter: Seacoast missed EPS at $0.44 versus $0.51 expected but reported revenue up 53% year‑over‑year to $204.8M; the stock trades near $29.36, below its 50‑day ($32.28) and 200‑day ($31.64) averages.
• Dividend and insider moves: the bank declared a $0.19 quarterly dividend (annualized $0.76, ~2.6% yield), while insiders sold ~29,752 shares in the past three months despite one director buying 4,000 shares; institutional ownership is ~81.8%.

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) have been given a consensus rating of "Hold" by the seven research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $31.90.

A number of analysts have commented on SBCF shares. Weiss Ratings raised Seacoast Banking Corporation of Florida from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 23rd. Keefe, Bruyette & Woods upped their price target on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Monday, February 2nd. Finally, Zacks Research cut Seacoast Banking Corporation of Florida from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th.

Seacoast Banking Corporation of Florida Stock Performance

Shares of NASDAQ SBCF opened at $29.36 on Monday. The firm's 50 day moving average price is $32.28 and its 200-day moving average price is $31.64. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $35.55. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $2.88 billion, a PE ratio of 18.35 and a beta of 0.92.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.07). The firm had revenue of $204.80 million during the quarter, compared to analysts' expectations of $201.25 million. Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.Seacoast Banking Corporation of Florida's revenue was up 53.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, equities research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is presently 47.50%.

Insider Transactions at Seacoast Banking Corporation of Florida

In related news, Director Joseph B. Shearouse III acquired 4,000 shares of the firm's stock in a transaction dated Thursday, February 12th. The stock was purchased at an average cost of $33.19 per share, with a total value of $132,760.00. Following the completion of the acquisition, the director directly owned 35,500 shares of the company's stock, valued at approximately $1,178,245. This trade represents a 12.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dennis S. Hudson III sold 8,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $31.34, for a total transaction of $250,720.00. Following the transaction, the director owned 236,854 shares in the company, valued at approximately $7,423,004.36. This trade represents a 3.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 29,752 shares of company stock valued at $976,846. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Several hedge funds and other institutional investors have recently modified their holdings of SBCF. Jones Financial Companies Lllp grew its holdings in shares of Seacoast Banking Corporation of Florida by 69.7% in the third quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider's stock worth $26,000 after acquiring an additional 352 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Seacoast Banking Corporation of Florida in the fourth quarter valued at about $26,000. Salomon & Ludwin LLC lifted its holdings in Seacoast Banking Corporation of Florida by 59.3% in the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 356 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in Seacoast Banking Corporation of Florida in the third quarter worth about $33,000. Finally, Advisory Services Network LLC purchased a new position in Seacoast Banking Corporation of Florida in the third quarter worth about $45,000. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.

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