Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Receives $29.40 Consensus PT from Analysts

Key Points

• Seacoast Banking Corporation of Florida has received a consensus rating of "Hold" from analysts, with three hold ratings and two buy ratings from the five firms covering the stock.
• The company reported $0.52 earnings per share for the last quarter, exceeding the consensus estimate of $0.42, and has a projected annual EPS of 1.71.
• Seacoast Banking Corporation declared a $0.18 quarterly dividend, resulting in an annualized dividend of $0.72 and a dividend yield of 2.5%, with payment scheduled for September 30th.

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) have been assigned a consensus rating of "Hold" from the five research firms that are presently covering the firm, 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 1-year price objective among brokerages that have covered the stock in the last year is $29.40.

SBCF has been the subject of a number of research reports. Hovde Group boosted their price objective on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a "market perform" rating in a research note on Wednesday, June 4th. Keefe, Bruyette & Woods upped their price target on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Stephens decreased their price target 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. Finally, Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter worth approximately $27,000. IFP Advisors Inc raised its position in 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 buying an additional 994 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 worth $43,000 after acquiring an additional 460 shares during the period. Assetmark Inc. lifted its stake in shares of Seacoast Banking Corporation of Florida by 24.0% in the 2nd quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider's stock worth $54,000 after acquiring an additional 375 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Seacoast Banking Corporation of Florida by 28.1% in the second quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 452 shares in the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Stock Down 1.1%

NASDAQ:SBCF traded down $0.31 during midday trading on Friday, hitting $29.17. 409,111 shares of the company were exchanged, compared to its average volume of 707,168. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $31.68. The company has a market capitalization of $2.56 billion, a PE ratio of 17.90 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $28.05 and a 200 day simple moving average of $26.50.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $151.40 million for the quarter, compared to analyst estimates 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 quarter last year, the company posted $0.36 earnings per share. As a group, equities analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida's payout ratio is 44.17%.

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.