Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Receives Average Rating of "Hold" from Analysts

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

Several analysts have commented on SBCF shares. Keefe, Bruyette & Woods boosted their target price on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research note on Saturday. Hovde Group boosted their price objective on shares of 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 reduced their price objective on shares of Seacoast Banking Corporation 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.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Several large investors have recently bought and sold shares of the stock. CWM LLC raised its stake in Seacoast Banking Corporation of Florida by 170.2% during the 2nd quarter. CWM LLC now owns 7,121 shares of the financial services provider's stock valued at $197,000 after purchasing an additional 4,486 shares during the last quarter. Moseley Investment Management Inc. acquired a new position in Seacoast Banking Corporation of Florida during the 2nd quarter valued at $335,000. KLP Kapitalforvaltning AS raised its stake in Seacoast Banking Corporation of Florida by 12.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,400 shares of the financial services provider's stock valued at $508,000 after purchasing an additional 2,100 shares during the last quarter. ZWJ Investment Counsel Inc. acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 2nd quarter worth approximately $242,000. Finally, Truist Financial Corp grew its holdings in shares of Seacoast Banking Corporation of Florida by 2.2% during the 2nd quarter. Truist Financial Corp now owns 17,208 shares of the financial services provider's stock worth $475,000 after purchasing an additional 373 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Down 0.2%

SBCF stock traded down $0.05 during trading hours on Wednesday, hitting $28.76. The company's stock had a trading volume of 890,957 shares, compared to its average volume of 691,479. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.47 billion, a PE ratio of 17.64 and a beta of 0.94. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $31.68. The stock has a 50 day moving average price of $26.91 and a two-hundred day moving average price of $26.32.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $151.40 million during the quarter, compared to the consensus estimate of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.70%. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, equities research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.50%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida's payout ratio is currently 48.32%.

About Seacoast Banking Corporation 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.