Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Receives $31.90 Consensus Target Price from Brokerages

by · The Markets Daily

Seacoast Banking Corporation of Florida (NASDAQ:SBCFGet Free Report) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $31.90.

A number of equities analysts have commented on SBCF shares. Keefe, Bruyette & Woods boosted their target price on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Finally, Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th.

View Our Latest Stock Report on Seacoast Banking Corporation of Florida

Insider Activity

In other Seacoast Banking Corporation of Florida news, Director Joseph B. Shearouse III bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were purchased at an average cost of $33.19 per share, for a total transaction of $132,760.00. Following the purchase, the director directly owned 35,500 shares in the company, valued at $1,178,245. This represents a 12.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dennis S. Hudson III sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $31.34, for a total value of $250,720.00. Following the completion of the sale, the director directly owned 236,854 shares of the company’s stock, valued at approximately $7,423,004.36. This represents a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 29,752 shares of company stock worth $976,846. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Seacoast Banking Corporation of Florida

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Seacoast Banking Corporation of Florida by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock valued at $222,732,000 after purchasing an additional 705,554 shares in the last quarter. North Reef Capital Management LP raised its holdings in shares of Seacoast Banking Corporation of Florida by 16.8% in the fourth quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider’s stock worth $183,244,000 after buying an additional 837,075 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Seacoast Banking Corporation of Florida by 58.6% during the third quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock worth $166,825,000 after buying an additional 2,025,988 shares during the period. State Street Corp grew its holdings in shares of Seacoast Banking Corporation of Florida by 1.4% during the fourth quarter. State Street Corp now owns 4,610,754 shares of the financial services provider’s stock valued at $144,870,000 after buying an additional 64,986 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Seacoast Banking Corporation of Florida by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,098,370 shares of the financial services provider’s stock valued at $94,284,000 after buying an additional 95,529 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Performance

Shares of NASDAQ:SBCF opened at $30.47 on Monday. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $35.55. The business’s fifty day simple moving average is $31.91 and its 200-day simple moving average is $31.61. The company has a market capitalization of $2.98 billion, a PE ratio of 19.04 and a beta of 0.91. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35.

Seacoast Banking Corporation of Florida (NASDAQ:SBCFGet Free Report) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The company had revenue of $204.80 million for the quarter, compared to analysts’ expectations of $201.25 million. During the same quarter last year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 53.0% compared to the same quarter last year. As a group, equities research 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 47.50%.

About Seacoast Banking Corporation of Florida

(Get Free Report)

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.

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