Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Consensus Rating of "Hold" by 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 ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $29.40.

Several equities research analysts have issued reports on SBCF shares. Keefe, Bruyette & Woods increased their price target on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Hovde Group upped their price objective 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. Stephens reduced their price objective on Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, Wall Street Zen raised 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

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in Seacoast Banking Corporation of Florida by 2.8% during the first quarter. Principal Financial Group Inc. now owns 422,306 shares of the financial services provider's stock valued at $10,866,000 after purchasing an additional 11,674 shares during the last quarter. GAMMA Investing LLC boosted its position in Seacoast Banking Corporation of Florida by 38.0% during the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 460 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Seacoast Banking Corporation of Florida by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 175,497 shares of the financial services provider's stock valued at $4,831,000 after purchasing an additional 26,631 shares during the last quarter. Orca Wealth Management LLC acquired a new position in Seacoast Banking Corporation of Florida during the first quarter valued at approximately $445,000. Finally, SG Americas Securities LLC acquired a new position in Seacoast Banking Corporation of Florida during the first quarter valued at approximately $471,000. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Down 1.6%

Shares of Seacoast Banking Corporation of Florida stock opened at $28.78 on Friday. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $31.68. The business has a 50-day moving average of $27.81 and a two-hundred day moving average of $26.46. The company has a market capitalization of $2.53 billion, a P/E ratio of 17.66 and a beta of 0.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings results 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. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%. The company had revenue of $151.40 million during the quarter, compared to the consensus estimate of $146.08 million. During the same period in the prior year, the company earned $0.36 earnings per share. As a group, equities analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio is currently 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.

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