Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Rating Increased to Hold at Wall Street Zen

Key Points

• Seacoast Banking Corporation of Florida has been upgraded to a "hold" rating by Wall Street Zen, moving from a previous "sell" rating.
• Analysts from various firms have raised their target prices for SBCF, with a range of $26.00 to $32.00, resulting in an average target price of $29.20.
• The company reported a quarterly earnings per share (EPS) of $0.52, exceeding expectations and showcasing a net margin of 16.63%.

Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) from a sell rating to a hold rating in a report issued on Saturday.

A number of other analysts also recently issued reports on SBCF. Hovde Group boosted 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 report on Wednesday, June 4th. Stephens cut 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 report on Monday, April 28th. Finally, Keefe, Bruyette & Woods boosted 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 report on Monday, June 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Seacoast Banking Corporation of Florida has a consensus rating of "Hold" and an average target price of $29.40.

Seacoast Banking Corporation of Florida Stock Performance

SBCF traded down $0.06 on Friday, reaching $29.16. The company had a trading volume of 29,280 shares, compared to its average volume of 493,454. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $31.68. The stock has a market cap of $2.51 billion, a P/E ratio of 17.89 and a beta of 0.94. The company's fifty day moving average is $26.98 and its 200 day moving average is $26.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) 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 the consensus estimate 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 firm posted $0.36 EPS. As a group, analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is presently 44.17%.

Institutional Trading of Seacoast Banking Corporation of Florida

A number of institutional investors and hedge funds have recently made changes to their positions in the company. North Reef Capital Management LP lifted its holdings in shares of Seacoast Banking Corporation of Florida by 3.7% during the 4th quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider's stock worth $116,452,000 after acquiring an additional 150,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Seacoast Banking Corporation of Florida by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,985,685 shares of the financial services provider's stock worth $82,195,000 after acquiring an additional 16,214 shares during the period. Westwood Holdings Group Inc. lifted its holdings 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 acquiring an additional 622,709 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in shares of Seacoast Banking Corporation of Florida by 0.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,011,523 shares of the financial services provider's stock worth $55,377,000 after acquiring an additional 14,536 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 3.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 1,916,743 shares of the financial services provider's stock worth $49,318,000 after acquiring an additional 58,560 shares during the period. 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.