Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Seacoast Banking Corporation of Florida's stock price recently crossed above its 200-day moving average, trading at $30.58 after reaching a high of $31.20.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with an average price target of $29.40, and several firms have recently upgraded its ratings.
• The company reported earnings per share of $0.52 for the last quarter, exceeding expectations, and announced a quarterly dividend of $0.18 per share.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.88 and traded as high as $31.20. Seacoast Banking Corporation of Florida shares last traded at $30.58, with a volume of 375,244 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBCF. Zacks Research upgraded Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Hovde Group raised their price target 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. Keefe, Bruyette & Woods raised their price target on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.40.

Seacoast Banking Corporation of Florida Trading Down 0.2%

The stock has a market capitalization of $2.69 billion, a PE ratio of 18.76 and a beta of 0.98. 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's 50-day moving average is $29.69 and its two-hundred day moving average is $26.88.

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 for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. The firm had revenue of $151.40 million during the quarter, compared to analysts' expectations of $146.08 million. During the same period in the previous year, the company earned $0.36 earnings per share. On average, analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio is presently 44.17%.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

A number of institutional investors and hedge funds have recently made changes to their positions in SBCF. Cetera Investment Advisers raised its holdings in shares of Seacoast Banking Corporation of Florida by 11.0% in the fourth quarter. Cetera Investment Advisers now owns 12,087 shares of the financial services provider's stock valued at $333,000 after buying an additional 1,197 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Seacoast Banking Corporation of Florida by 17.9% in 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 buying an additional 26,631 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Seacoast Banking Corporation of Florida in the fourth quarter valued at about $637,000. Moody National Bank Trust Division raised its holdings in shares of Seacoast Banking Corporation of Florida by 9.8% in the first quarter. Moody National Bank Trust Division now owns 41,060 shares of the financial services provider's stock valued at $1,056,000 after buying an additional 3,672 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Seacoast Banking Corporation of Florida by 3,451.2% in the first quarter. GAMMA Investing LLC now owns 42,969 shares of the financial services provider's stock valued at $1,106,000 after buying an additional 41,759 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

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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