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Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Receives Consensus Rating of "Hold" from Brokerages

Seacoast Banking Corporation of Florida logo with Finance background

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $29.20.

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Wall Street Zen cut Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Hovde Group lifted their price target on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 4th. Finally, Stephens decreased their price target on Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th.

View Our Latest Report on SBCF

Institutional Trading of Seacoast Banking Corporation of Florida

Several hedge funds have recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new position in shares of Seacoast Banking Corporation of Florida during the first quarter worth about $27,000. IFP Advisors Inc raised its position in shares of Seacoast Banking Corporation of Florida by 343.9% during the 1st 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 during the last quarter. GAMMA Investing LLC increased its holdings in shares of Seacoast Banking Corporation 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 buying an additional 460 shares during the last quarter. CWM LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 61.6% during the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider's stock worth $68,000 after buying an additional 1,004 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in Seacoast Banking Corporation of Florida by 811.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock worth $73,000 after purchasing an additional 2,370 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Down 0.3%

Shares of SBCF traded down $0.10 during trading hours on Wednesday, reaching $28.71. The stock had a trading volume of 407,832 shares, compared to its average volume of 491,603. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $31.68. The firm has a 50-day simple moving average of $26.85 and a 200 day simple moving average of $26.30. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 19.24 and a beta of 0.94.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a return on equity of 6.11% and a net margin of 15.44%. The firm had revenue of $151.40 million during the quarter, compared to analyst estimates of $146.08 million. During the same period last year, the firm posted $0.36 EPS. Equities research analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.51%. Seacoast Banking Corporation of Florida's payout ratio is currently 48.32%.

About Seacoast Banking Corporation of Florida

(Get Free Report

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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Analyst Recommendations for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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