Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) have been given an average rating of "Hold" by the five research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $29.20.

Several research firms have recently weighed in on SBCF. Hovde Group lifted their price objective on shares of 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 lifted their price objective on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Stephens lowered 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. Finally, Wall Street Zen lowered shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a research note on Friday, May 16th.

Seacoast Banking Corporation of Florida Stock Up 3.0%

Shares of NASDAQ SBCF opened at $27.48 on Friday. The company has a 50 day simple moving average of $25.07 and a 200 day simple moving average of $26.13. The firm has a market cap of $2.36 billion, a PE ratio of 18.44 and a beta of 0.92. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $31.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). 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 $140.70 million for the quarter, compared to the consensus estimate of $138.41 million. The business's revenue for the quarter was up 12.0% on a year-over-year basis. On average, research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.62%. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is presently 48.32%.

Institutional Trading of Seacoast Banking Corporation of Florida

A number of hedge funds and other institutional investors have recently bought and sold shares of SBCF. Westwood Holdings Group Inc. increased its stake in Seacoast Banking Corporation of Florida by 27.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider's stock valued at $73,834,000 after purchasing an additional 622,709 shares in the last quarter. Nuveen LLC bought a new stake in Seacoast Banking Corporation of Florida during the 1st quarter valued at $12,454,000. JPMorgan Chase & Co. increased its stake in Seacoast Banking Corporation of Florida by 182.3% during the 4th quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider's stock valued at $18,730,000 after purchasing an additional 439,346 shares in the last quarter. FJ Capital Management LLC bought a new stake in Seacoast Banking Corporation of Florida during the 1st quarter valued at $10,084,000. Finally, Raymond James Financial Inc. bought a new stake in Seacoast Banking Corporation of Florida during the 4th quarter valued at $6,850,000. Institutional investors own 81.77% of the company's stock.

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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