Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) from a hold rating to a sell rating in a research report released on Tuesday.

Several other equities analysts have also weighed in on the stock. Stephens decreased their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their target price on shares of Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Raymond James reiterated an "outperform" rating and issued a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $29.40.

Seacoast Banking Co. of Florida Price Performance

NASDAQ SBCF traded down $0.17 during trading hours on Tuesday, hitting $24.75. 227,980 shares of the company's stock traded hands, compared to its average volume of 422,255. Seacoast Banking Co. of Florida has a 52-week low of $21.36 and a 52-week high of $31.68. The company has a market capitalization of $2.13 billion, a PE ratio of 17.31 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The firm's 50-day moving average is $24.47 and its 200-day moving average is $26.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $140.70 million for the quarter, compared to analysts' expectations of $138.41 million. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The firm's revenue was up 12.0% on a year-over-year basis. Equities analysts forecast that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.91%. Seacoast Banking Co. of Florida's dividend payout ratio is currently 48.32%.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several large investors have recently made changes to their positions in the stock. Deutsche Bank AG lifted its holdings in shares of Seacoast Banking Co. of Florida by 54.7% in the 1st quarter. Deutsche Bank AG now owns 114,082 shares of the financial services provider's stock worth $2,935,000 after acquiring an additional 40,330 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Seacoast Banking Co. of Florida by 5.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 953,894 shares of the financial services provider's stock worth $24,544,000 after acquiring an additional 50,417 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Seacoast Banking Co. of Florida by 27.7% in 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 last quarter. Orca Wealth Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 1st quarter worth approximately $445,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Seacoast Banking Co. of Florida by 4.4% in the 1st quarter. Mackenzie Financial Corp now owns 24,159 shares of the financial services provider's stock worth $622,000 after acquiring an additional 1,015 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. 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.