Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Hits New 12-Month High - Should You Buy?

Key Points

• Shares of Seacoast Banking Corporation of Florida reached a new 52-week high at $32.33 amid a trading volume of 162,066 shares.
• Analysts have upgraded the stock to a "strong-buy" rating, and it now has an average rating of "Moderate Buy" with a consensus price target of $29.40.
• The company recently declared a quarterly dividend of $0.18, representing an annual yield of 2.3% and a dividend payout ratio of 44.17%.

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.33 and last traded at $32.19, with a volume of 162066 shares changing hands. The stock had previously closed at $30.92.

Analyst Upgrades and Downgrades

SBCF has been the topic of a number of recent research reports. Zacks Research raised 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 raised Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods raised their price objective on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Seacoast Banking Corporation of Florida in a report on Saturday, September 27th. 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $29.40.

Seacoast Banking Corporation of Florida Stock Up 1.8%

The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.36. The business has a 50-day simple moving average of $29.94 and a 200-day simple moving average of $27.15. The stock has a market cap of $2.76 billion, a P/E ratio of 19.31 and a beta of 0.94.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 16.63% and a return on equity of 6.65%. During the same quarter last year, the firm posted $0.36 earnings per share. Analysts expect 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 was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is currently 44.17%.

Institutional Trading of Seacoast Banking Corporation of Florida

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Seacoast Banking Corporation of Florida by 21.9% in the second quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 366 shares in the last quarter. Truist Financial Corp lifted 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 acquiring an additional 373 shares during the period. Assetmark Inc. increased its stake in Seacoast Banking Corporation of Florida by 24.0% in the second quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 375 shares during the period. First Horizon Advisors Inc. raised its position in 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 worth $57,000 after purchasing an additional 452 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in Seacoast Banking Corporation of Florida by 4.2% during the second quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider's stock worth $351,000 after purchasing an additional 513 shares during the period. Institutional investors and hedge funds 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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