Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Hold (C+) Rating at Weiss Ratings

Key Points

• Seacoast Banking Corporation of Florida's stock received a reaffirmed rating of "hold (C+)" from Weiss Ratings, indicating a cautious outlook from analysts.
• Analysts have varying ratings with one "Strong Buy", two "Buy", and four "Hold" ratings, suggesting mixed sentiment among investors.
• The company reported earnings of $0.52 per share for the last quarter, exceeding expectations, with revenue also surpassing analyst forecasts.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

SBCF has been the subject of a number of other research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Raymond James Financial set a $33.00 price target on shares of Seacoast Banking Corporation of Florida and gave the stock an "outperform" rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.80.

Seacoast Banking Corporation of Florida Trading Down 0.1%

Shares of SBCF stock opened at $31.69 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $2.78 billion, a P/E ratio of 19.44 and a beta of 0.94. The company has a 50 day moving average price of $30.12 and a 200 day moving average price of $27.25. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $32.33.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. The firm had revenue of $151.40 million during the quarter, compared to analysts' expectations of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. During the same quarter in the previous year, the business posted $0.36 earnings per share. Equities research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Institutional Trading of Seacoast Banking Corporation of Florida

Several institutional investors have recently modified their holdings of the stock. Westwood Holdings Group Inc. lifted its position in shares of 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 worth $73,834,000 after buying an additional 622,709 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Seacoast Banking Corporation of Florida by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,072,290 shares of the financial services provider's stock worth $57,244,000 after buying an additional 14,896 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Seacoast Banking Corporation of Florida by 0.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 1,927,217 shares of the financial services provider's stock worth $53,230,000 after buying an additional 10,474 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Seacoast Banking Corporation of Florida by 37.3% during the 2nd quarter. Brown Advisory Inc. now owns 1,255,807 shares of the financial services provider's stock worth $34,685,000 after buying an additional 341,241 shares during the last quarter. Finally, FJ Capital Management LLC lifted its position in shares of Seacoast Banking Corporation of Florida by 194.6% during the 2nd quarter. FJ Capital Management LLC now owns 1,154,434 shares of the financial services provider's stock worth $31,885,000 after buying an additional 762,505 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company's stock.

Seacoast Banking Corporation of Florida Company Profile

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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